Morgan Stanley analyst Vikram Purohit raised the firm’s price target on Axsome Therapeutics to $86 from $73 and keeps an Equal Weight rating on the shares after the company reported positive data from the ACCORD trial of AXS-05 in Alzheimer’s Disease Agitation, or ADA. AXS-05 appears active in ADA and he now includes a risk-adjusted value for ADA in his model, assigning AXS-05 a 70% probability of success in in this indication and estimating a launch in late 2026.
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
See today’s best-performing stocks on TipRanks >>
Read More on AXSM:
- Axsome’s positive data may provide path for earlier sNDA filing, says Ladenburg
- Axsome Therapeutics study met primary, secondary endpoints, says Guggenheim
- Axsome Therapeutics Rises on Promising Alzheimer’s Results
- Axsome Therapeutics Announces AXS-05 Achieves Primary Endpoint in the ACCORD Phase 3 Trial in Alzheimer’s Disease Agitation
- Axsome Therapeutics says AXS-05 achieves primary endpoint in ACCORD trial