TD Cowen raised the firm’s price target on Axsome Therapeutics (AXSM) to $190 from $155 and keeps a Buy rating on the shares. The company announced it has resolved the Teva (TEVA) patent litigation related to Auvelity, which will allow entry of a generic no earlier than 2038, the analyst tells investors in a research note. The firm believes the news “should help bring much needed clarity” to Auvelity’s exclusivity and potential commercial opportunity, while likely increasing Axsome’s takeout speculation. The stock remains a top pick at TD.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AXSM:
- Axsome Therapeutics initiated with a Buy at Deutsche Bank
- Axsome Therapeutics price target raised to $150 from $110 at Leerink
- Analyst Upgrades Axsome to Buy Amid Key Settlement with Teva and Raised Price Target
- Shares in Biopharma Firm Axsome Surge Over 20% After Settling Teva Patent Dispute
- Axsome Therapeutics: Strategic Legal Resolution and Growth Potential Propel Buy Rating