Analyst Joseph Thome of TD Cowen maintained a Buy rating on Axsome Therapeutics, retaining the price target of $190.00.
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Joseph Thome has given his Buy rating due to a combination of factors, primarily focusing on the strong financial performance and growth prospects of Axsome Therapeutics. The company reported impressive revenue growth in Q2:25, with Auvelity sales surpassing market expectations, which indicates a robust market uptake and effective sales strategies.
Furthermore, Axsome is on track with its plans to submit a supplemental New Drug Application (sNDA) for Auvelity in the treatment of Agitation in Alzheimer’s Disease (ADA) in the third quarter. This submission represents a significant growth opportunity for the company, and the positive data from pivotal studies enhances the likelihood of approval. The potential for label expansion and the strategic alignment with the FDA further support the optimistic outlook for Axsome’s future performance.
In another report released today, Needham also maintained a Buy rating on the stock with a $150.00 price target.