Axsome Therapeutics price target raised to $248 from $163 at UBS

UBS raised the firm’s price target on Axsome Therapeutics (AXSM) to $248 from $163 and keeps a Buy rating on the shares. The Biotech sector enters 2026 on a cautiously optimistic note, the analyst tells investors in a research note. While capital absorption from secondary offerings is a concern, over $47B of pending capital from potential M&A could offset this, though sustained outperformance will likely require M&A activity to continue outpacing secondaries and IPOs, the firm says.