William Blair analyst Myles Minter has reiterated their bullish stance on AXSM stock, giving a Buy rating on April 7.
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Myles Minter’s rating is based on the promising potential of Axsome Therapeutics’ AXS-12, particularly in addressing the unmet needs in narcolepsy treatment. The recent discussions with Dr. Kiran Maski highlighted the significant benefits of AXS-12 in reducing cataplexy, a major symptom of narcolepsy, as demonstrated in the Phase III SYMPHONY study.
Despite some reservations about the endpoints used to measure excessive daytime sleepiness, the overall enthusiasm for AXS-12’s efficacy in cataplexy and its potential impact on mood and cognition contribute to the positive outlook. Dr. Maski’s insights, coupled with the growing interest in orexin-2 receptor agonists, support the Buy rating, reflecting confidence in Axsome’s ability to address critical gaps in narcolepsy treatment.
In another report released on April 7, Jefferies also initiated coverage with a Buy rating on the stock with a $200.00 price target.