UBS initiated coverage of Axsome Therapeutics with a Buy rating and $111 price target. The analyst is bullish on Auvelity’s launch and the company’s pipeline opportunities with upcoming late-stage clinical readouts. Auvelity could become a leading brand in depression, generating $1B in sales by 2030, the analyst tells investors in a research note. Further, positive data in Phase Alzheimer’s agitation and narcolepsy should drive stock outperformance, says the firm.
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