Analyst Vikram Purohit of Morgan Stanley maintained a Buy rating on Axsome Therapeutics (AXSM – Research Report), retaining the price target of $190.00.
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Vikram Purohit’s rating is based on the promising commercial trajectory of Axsome Therapeutics’ product, Auvelity, which is used for treating major depressive disorder. Since its approval in August 2022 and commercial availability in October 2022, Auvelity has shown a steady increase in prescriptions, with a notable growth in new patient starts and total prescriptions in the first quarter of 2025. This growth is significant, especially given the overall decline in the antidepressant market.
Furthermore, the sales projections for Auvelity are strong, with expected revenues of approximately $480 million by 2025, potentially reaching $1 billion by 2027. The consistent weekly prescription trends, despite slight fluctuations, indicate a stable demand for the drug. These factors collectively contribute to Vikram Purohit’s Buy rating for Axsome Therapeutics, reflecting confidence in the company’s future performance and market position.
In another report released on May 28, Mizuho Securities also reiterated a Buy rating on the stock with a $210.00 price target.
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