H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Axsome Therapeutics (AXSM – Research 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.