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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on AXSM:
- Biotech Alert: Searches spiking for these stocks today
- Tesla, Boeing downgraded: Wall Street’s top analyst calls
- RBC Capital starts Axsome Therapeutics at Outperform on ‘good’ Auvelity results
- Axsome Therapeutics initiated with an Outperform at RBC Capital
- Axsome Therapeutics to Report Fourth Quarter and Full Year 2023 Financial Results on February 20