TD Cowen analyst Joseph Thome maintained a Buy rating on Axsome Therapeutics (AXSM – Research Report) today and set a price target of $190.00.
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Joseph Thome has given his Buy rating due to a combination of factors related to Axsome Therapeutics’ strategic legal resolution and potential for commercial growth. The resolution of the patent litigation with Teva regarding Auvelity, which allows for a generic entry no earlier than 2038, provides significant clarity on the drug’s exclusivity. This legal settlement removes a major uncertainty that had been overshadowing the stock, potentially making Axsome a more attractive target for acquisition.
Furthermore, Thome highlights the potential for substantial sales growth, with peak sales projections in major depressive disorder and Alzheimer’s agitation markets reaching $2.5 billion and $845 million, respectively. The revised projections are based on the updated exclusivity timelines, providing a strong foundation for future financial performance. Overall, these developments contribute to a positive outlook for Axsome, supporting the Buy rating with an increased price target of $190.
According to TipRanks, Thome is an analyst with an average return of -2.0% and a 39.77% success rate. Thome covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, PTC Therapeutics, and AnaptysBio.
In another report released today, Needham also maintained a Buy rating on the stock with a $133.00 price target.