Cantor Fitzgerald analyst Charles Duncan reiterated a Buy rating on Axsome Therapeutics Inc (AXSM) yesterday and set a price target of $16. The company’s shares closed yesterday at $6.87.
Duncan said:
“We reiterate our Overweight rating and $16 PT on AXSM. Axsome pursues new indications for drugs approved in other indications, sometimes using new combinations or new routes of administration. We see this as a relatively balanced risk strategy and view the pipeline as robust, with trials spanning CNS and pain indications. We particularly value AXS-05 and its applicability to neuropsychiatric indications where we feel the individual compounds dextromethorphan (DM) and bupropion (BP) are derisked through proven efficacy in related indications.”
According to TipRanks.com, Duncan is a 1-star analyst with an average return of -0.8% and a 42.3% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
Currently, the analyst consensus on Axsome Therapeutics Inc is a Strong Buy with an average price target of $21.67, implying a 215.4% upside from current levels. In a report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $15 price target.
.
See today’s analyst top recommended stocks >>
Based on Axsome Therapeutics Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $8.28 million. In comparison, last year the company had a GAAP net loss of $7.43 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Axsome Therapeutics, Inc. is a clinical stage biopharmaceutical company, which engages in developing novel therapies for the management of central nervous system disorders. Its product candidates include AXS-02 and AXS-06 which are developing for multiple indications.
