Axsome Therapeutics price target raised to $98 from $62 at BTIG

BTIG analyst Robert Hazlett raised the firm’s price target on Axsome Therapeutics to $98 from $62 and keeps a Buy rating on the shares. The analyst cites the company’s recently announced positive results in a Phase 3 randomized-withdrawal, placebo-controlled trial called ACCORD, which examines its approved depression therapy AXS-05 in the setting of patients with Alzheimer’s Disease agitation. Hazlett adds that while full data was not disclosed, and timing of the potential approval in the Alzheimer’s agitation indication remains uncertain, he views the ACCORD results as "highly positive" and supportive of the consideration of AXS-05 in the Alzheimer’s agitation setting.