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Axsome Therapeutics Inc (AXSM) Receives a Buy from H.C. Wainwright


H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Axsome Therapeutics Inc (NASDAQ: AXSM) today and set a price target of $10. The company’s shares closed yesterday at $3.40.

Selvaraju commented:

“We utilize a risk-adjusted net present value (rNPV) approach to assessing Axsome shares. Our composite analysis ascribes value to Axsome’s three clinical candidates across five indications—namely, TRD, AD-associated agitation, smoking cessation, knee OA, and migraine—and apply a 20% discount rate to all future cash flows along with a 28.1% effective tax rate and 33% sales and marketing rate.”

According to TipRanks.com, Selvaraju is a 1-star analyst with an average return of 0.0% and a 35.6% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, Bausch Health Companies Inc, and Synergy Pharmaceuticals Inc.

Axsome Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $10.

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The company has a one-year high of $5.95 and a one-year low of $2.05. Currently, Axsome Therapeutics Inc has an average volume of 162.6K.

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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.