Axsome Therapeutics, Inc. is a biopharmaceutical company developing and delivering novel therapies for central nervous system (CNS) conditions that have limited treatment options. Through development of therapeutic options with novel mechanisms of action, we are transforming the approach to treating CNS conditions.
Since June, the stock ran from about $25 to a current price of $56, and it could still run – especially with a number of analysts out with bullish notes. Loop Capital, for example, recently initiated a buy rating on the stock, with a $95 price target.
“The company offers a broad portfolio of commercial and clinical-stage treatments for CNS disorders while transforming into a commercial-stage company with the recent FDA approval of Auvelity/AXS-05 and acquisition of Sunosi from Jazz Pharmaceuticals,” they noted.
Cantor Fitzgerald analyst Charles Duncan raised the firm’s price target on Axsome Therapeutics to $96 from $88 with an Overweight rating. The analysts like that Axsome had a very productive quarter, highlighted by the approval of AUVELITY for major depressive disorder (MDD).