.png "Axsome Therapeutics Inc (NASDAQ: AXSM)")
H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Axsome Therapeutics Inc (AXSM) today and set a price target of $15. The company’s shares closed on Friday at $7.36.
Selvaraju said:
“We utilize a risk-adjusted net present value (rNPV) approach to assessing Axsome shares. We apply a 20% discount rate to all future cash flows along with a 28.1% effective tax rate and 33% sales and marketing rate. The probabilities of approval for all of Axsome’s candidates currently range from 10% to 30%.”
According to TipRanks.com, Selvaraju has 0 stars on 0-5 star ranking scale with an average return of -15.7% and a 25.6% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
Currently, the analyst consensus on Axsome Therapeutics Inc is a Strong Buy with an average price target of $21.25, a 188.7% upside from current levels. In a report issued on January 7, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $16 price target.
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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.
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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.
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