Leerink Partners analyst Marc Goodman has maintained their bullish stance on AXSM stock, giving a Buy rating yesterday.
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Marc Goodman’s rating is based on a combination of factors that highlight the promising future prospects of Axsome Therapeutics. The analyst remains optimistic about the company’s pipeline, particularly with the anticipated submission of the sNDA for Auvelity in Alzheimer’s disease agitation by the third quarter of 2025. Additionally, the NDA submission for AXS-12 targeting cataplexy in narcolepsy is also on track for the second half of 2025, indicating strong progress in their clinical programs.
Goodman is encouraged by the company’s expectation of achieving seven approvals by 2028, which underscores the advanced stage of many of its pipeline assets. The potential for these developments to significantly boost sales, particularly with the Alzheimer’s indication potentially adding over $1 billion in revenue, supports the Buy rating. Overall, the analyst’s positive outlook is driven by the robust late-stage pipeline and the potential for substantial sales growth.
In another report released yesterday, Needham also maintained a Buy rating on the stock with a $150.00 price target.
Based on the recent corporate insider activity of 18 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.