Axsome Therapeutics (AXSM) has received a new Buy rating, initiated by Morgan Stanley analyst, Sean Laaman.
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Sean Laaman has given his Buy rating due to a combination of factors including the anticipated regulatory progress and commercial success of Axsome Therapeutics. The company is expected to submit a supplemental New Drug Application for AXS-05 in Alzheimer’s Disease Agitation, with a high probability of regulatory success, which could lead to significant sales growth by 2030.
Additionally, the commercial launch of Auvelity for Major Depressive Disorder has shown promising results, with substantial year-over-year sales growth. This growth trajectory is expected to continue, supported by an expanded sales force and market penetration strategies. These factors, combined with a projected 70% increase in product revenue by 2025, underpin the positive outlook for Axsome’s stock.
According to TipRanks, Laaman is a 3-star analyst with an average return of 2.9% and a 55.03% success rate. Laaman covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals, Jazz Pharmaceuticals, and Halozyme.