Axsome Therapeutics price target lowered to $107 from $111 at UBS

UBS lowered the firm’s price target on Axsome Therapeutics to $107 from $111 and keeps a Buy rating on the shares. The sell-off following the Q4 earnings call, which was likely from the ADVANCE-2 trial timeline delay, creates an attractive opportunity, the analyst tells investors in a research note. The firm sees upside to the stock on a positive readout in ADVANCE-2 and expects continued growth for Auvelity in major depressive disorder.