William Blair analyst Myles Minter has maintained their bullish stance on AXSM stock, giving a Buy rating on April 6.
Myles Minter’s rating is based on the promising developments surrounding Axsome Therapeutics’ AXS-12 (reboxetine) for type-1 narcolepsy. The positive results from the Phase III SYMPHONY trial, which demonstrated a significant reduction in weekly cataplexy attacks compared to placebo, highlight the potential of AXS-12 as an effective treatment option. This success is particularly noteworthy given the current focus on Axsome’s other assets, such as Auvelity, for depression and Alzheimer’s disease-related agitation.
Minter also considers the upcoming New Drug Application (NDA) filing for AXS-12 in the latter half of 2025 as a pivotal milestone for the company. The broader context of ongoing developments in narcolepsy treatments, including emerging orexin-2 receptor agonists, further supports the potential market opportunity for Axsome. These factors collectively underpin Minter’s confidence in Axsome Therapeutics’ growth prospects, justifying the Buy rating.
Minter covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Alnylam Pharma, and Arcturus Therapeutics. According to TipRanks, Minter has an average return of 1.6% and a 39.29% success rate on recommended stocks.
In another report released on April 6, Jefferies also initiated coverage with a Buy rating on the stock with a $200.00 price target.