Truist raised the firm’s price target on Axsome Therapeutics (AXSM) to $180 from $150 and keeps a Buy rating on the shares. After having spoken with six doctors who treat Alzheimer’s disease agitation, the firm says those doctors “unanimously” viewed AXS-05’s totality of evidence as supportive of approval with front-line use ahead of brexpiprazole. The reasons provided by the doctors may make the positive trial results of AXS-05 more translatable to target demographic in the U.S., according to the analyst, who is raising ADA estimates for AXS-05.
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