Axsome Therapeutics price target lowered to $186 from $193 at RBC Capital

RBC Capital lowered the firm’s price target on Axsome Therapeutics (AXSM) to $186 from $193 but keeps an Outperform rating on the shares. The firm has met with the management to discuss the recent announcement that Axsome’s Symbravo is commercially available, the analyst tells investors in a research note. While RBC sees a “relatively modest” contribution to 2025 revenues from the migraine franchise and notes that the fibromyalgia RTF – Refusal to File – letter was disappointing, it also believes that the key drivers of the stock’s investment story remain Auvelity uptake in MDD – Major Depressive Disorder – and the Alzheimer’s agitation opportunity, the firm added.