BofA analyst Jason Gerberry raised the firm’s price target on Axsome Therapeutics (AXSM) to $276 from $239 and keeps a Buy rating on the shares. The company’s Q1 report “crystallizes a more significant bull case,” the analyst tells investors in a research note. The firm believes Axsome’s increased $8B peak sales target shows Auvelity’s “indication-stacking potential.” It believes the market is “materially underpricing” Auvelity’s long-term growth potential.
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