Needham analyst Ami Fadia maintained a Buy rating on Axsome Therapeutics (AXSM – Research Report) today and set a price target of $133.00.
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Ami Fadia’s rating is based on Axsome Therapeutics’ recent resolution of patent litigation with Teva, which has been a significant concern for investors. The settlement allows Axsome to extend its exclusive rights for Auvelity until at least September 2038 or March 2039, providing a longer time frame to capitalize on this product without generic competition.
This strategic resolution removes a major overhang for the company, enhancing its investment appeal. Additionally, Axsome remains a top pick due to its promising pipeline, which includes ongoing developments such as solriamfetol for ADHD and MDD, and AXS-14 for fibromyalgia, and AXS-12 for narcolepsy. These factors collectively reinforce the Buy rating, as they position the company for potential growth and success in the coming years.