Mizuho analyst Graig Suvannavejh raised the firm’s price target on Axsome Therapeutics (AXSM) to $216 from $212 and keeps an Outperform rating on the shares. The company announced positive top-line data from the Phase 3 FOCUS study for solriamfetol in ADHD, and the shares fell 7% surprisingly, the analyst tells investors in a research note. The firm remains positive on the data outcome after speaking with management, and finds the negative stock reaction “misplaced.” Mizuho remains bullish on solriamfetol’s potential as a new non-stimulant-based treatment option.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AXSM:
- Positive Outlook on Axsome Therapeutics Despite Modest Market Reaction
- Buy Rating Affirmed for Axsome Therapeutics Amid Promising ADHD Treatment Results and Strategic Market Positioning
- Axsome Therapeutics announces FOCUS Phase 3 trial achieved primary endpoint
- Axsome Therapeutics’ Promising Phase III FOCUS Trial Results Boost Buy Rating
- Positive Phase 3 Trial Results for Axsome Therapeutics’ Solriamfetol Drive Buy Rating Amid Market Uncertainties