Morgan Stanley assumed coverage of Axsome Therapeutics (AXSM) with an Overweight rating and $190 price target The firm sees an on-time supplemental new drug application submission for AXS-05 in Alzheimer’s Disease agitation as the base case and is modeling $900M in sales in 2030E. Morgan Stanley is encouraged by the continued launch progress of Auvelity in major depressive disorder and awaits the outcomes of the expanded sales force and additional commercial dynamics, the analyst tells investors in a research note.
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