BofA analyst Jason Gerberry upgraded Axsome Therapeutics to Neutral from Underperform with a price target of $81, up from $59, telling investors that the Auvelity launch in Major Depressive Disorder, or MDD, is tracking ahead of the firm’s expectations. BofA foresees label expansion into Alzheimer’s agitation as likely and believes Auvelity exclusivity should ultimately last to 2034, the analyst added.
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