Needham raised the firm’s price target on Axsome Therapeutics (AXSM) to $153 from $133 and keeps a Buy rating on the shares. The company’s Q4 results were “uneventful” following its pre-announcement earlier last month, though the weakness in the stock is a reflection of the recent move following the Auvelity IP settlement and low investor expectations ahead of the Q1 Phase 3 data readouts for solriamfetol in ADHD and MDD – major depressive disorder – the analyst tells investors in a research note.
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