Optimistic Buy Rating for Axsome Therapeutics Amid Promising Developments and Strategic Initiatives

Morgan Stanley analyst Vikram Purohit maintained a Buy rating on Axsome Therapeutics (AXSM – Research Report) yesterday and set a price target of $190.00.

Vikram Purohit’s rating is based on several promising developments and strategic initiatives by Axsome Therapeutics. The company is making significant progress with its AXS-05 program, particularly in the area of Alzheimer’s disease agitation, where they are on track for a supplemental New Drug Application (sNDA) filing by the third quarter of 2025. The management has expressed confidence in the success of this filing due to their consistent communication with the FDA, despite recent staffing changes at the agency.
Additionally, Axsome’s commercial strategy for Symbravo in the migraine market and their ongoing execution in major depressive disorder (MDD) are seen as positive indicators of the company’s growth potential. The management also highlighted the significant sales potential in the Alzheimer’s disease agitation market, estimated between $1.5 billion to $3 billion, which overlaps with the MDD market. These factors collectively contribute to the optimistic outlook and the Buy rating for Axsome Therapeutics.

In another report released on June 14, William Blair also reiterated a Buy rating on the stock with a $0.00 price target.

Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AXSM in relation to earlier this year.