Axsome Therapeutics (AXSM – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on May 5. Analyst Marc Goodman from Leerink Partners maintained a Buy rating on the stock and has a $150.00 price target.
Marc Goodman has given his Buy rating due to a combination of factors, including the strong performance and future potential of Axsome Therapeutics’ key products. The sales of Auvelity and Sunosi have met or exceeded expectations, with Auvelity showing a promising growth trajectory that is expected to continue as direct-to-consumer advertising is introduced. Additionally, there is optimism surrounding the potential approval of Auvelity for Alzheimer’s disease agitation, which could significantly boost sales.
Moreover, the company’s pipeline is progressing well, with preparations for the launch of Symbravo in acute migraine on track and positive feedback received. The management’s assurance that potential tariffs will have minimal impact due to domestic manufacturing further strengthens the outlook. These factors, combined with stable earnings forecasts and a strong market position, contribute to the Buy rating.
In another report released yesterday, Needham also reiterated a Buy rating on the stock with a $153.00 price target.