William Blair analyst Myles Minter has reiterated their bullish stance on AXSM stock, giving a Buy rating on November 10.
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Myles Minter has given his Buy rating due to a combination of factors that highlight Axsome Therapeutics’ strategic moves and potential for growth. The company’s acquisition of Baergic Bio, which grants them global rights to AZD7325, now renamed AXS-17, is a significant step in expanding their pipeline into epilepsy treatment. This compound, originally developed by AstraZeneca, has shown promising preclinical results in animal models for various epilepsies, despite previous setbacks in anxiety disorder trials.
Axsome’s acquisition terms are financially favorable, requiring minimal upfront investment while offering potential for substantial milestone and royalty payments. This aligns with Axsome’s strategy of building a diversified neuroscience portfolio with limited capital expenditure. The move into epilepsy is particularly strategic given the predictive nature of preclinical data for clinical success in this area. These factors collectively contribute to Minter’s positive outlook on Axsome’s stock, justifying the Buy rating.
According to TipRanks, Minter is a 5-star analyst with an average return of 29.1% and a 59.85% success rate. Minter covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Biogen, and Vertex Pharmaceuticals.
In another report released on November 10, Mizuho Securities also reiterated a Buy rating on the stock with a $202.00 price target.