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Positive Outlook for Axsome Therapeutics Despite Regulatory Setback, Driven by Promising Pipeline and Market Potential

Positive Outlook for Axsome Therapeutics Despite Regulatory Setback, Driven by Promising Pipeline and Market Potential

H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Axsome Therapeutics (AXSMResearch Report) today and set a price target of $180.00.

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Ram Selvaraju has given his Buy rating due to a combination of factors that indicate strong potential for Axsome Therapeutics. Despite the recent setback with the FDA’s Refusal to File letter for AXS-14, Selvaraju views this as a temporary issue that does not affect the company’s valuation. The FDA’s feedback provides a clear path forward, and Axsome plans to conduct an additional trial to meet the agency’s requirements, which could lead to a resubmission in the future.
Selvaraju also highlights the promising launch of SYMBRAVO, Axsome’s anti-migraine agent, which has shown robust clinical effectiveness in multiple trials. The product has demonstrated significant benefits over existing treatments, suggesting it could capture a substantial market share. Additionally, the upcoming submission of AXS-05 for Alzheimer’s disease-associated agitation, which has received Breakthrough Therapy Designation, further strengthens Axsome’s pipeline and potential for growth. These factors collectively support the Buy rating and a positive outlook for the company’s stock.

According to TipRanks, Selvaraju is a 5-star analyst with an average return of 16.5% and a 48.28% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Vanda, and Anavex Life Sciences.

In another report released today, Piper Sandler also reiterated a Buy rating on the stock with a $148.00 price target.

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