Oppenheimer analyst Matthew Hershenhorn initiated coverage of Axsome Therapeutics (AXSM) with an Outperform rating and $185 price target The firm views Axsome as a “uniquely attractive” mid-cap biopharma company in neuroscience, based on “multiple differentiating advantages.” The company offers accelerating revenue growth with three approved products, a broad pipeline including label expansion opportunities and late-stage assets, which remain underappreciated by the consensus, and several upcoming catalysts that could unlock additional value, the analyst tells investors in a research note. Opco views 2025 and 2026 as a “transformational period” for Axsome, saying the company’s sales growth and synergies could drive profitability in 2026.
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