Cantor Fitzgerald Believes Axsome Therapeutics Inc (AXSM) Still Has Room to Grow


In a report released today, Charles Duncan from Cantor Fitzgerald reiterated a Buy rating on Axsome Therapeutics Inc (AXSM), with a price target of $25. The company’s shares opened today at $14.10, close to its 52-week high of $15.98.

Duncan noted:

“We reiterate our Overweight rating and $25 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 4-star analyst with an average return of 4.5% and a 51.2% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Crinetics Pharmaceuticals Inc, and KalVista Pharmaceuticals Inc.

Axsome Therapeutics Inc has an analyst consensus of Strong Buy, with a price target consensus of $21, a 48.9% upside from current levels. In a report issued on March 15, H.C. Wainwright also reiterated a Buy rating on the stock with a $18 price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $15.98 and a one-year low of $1.94. Currently, Axsome Therapeutics Inc has an average volume of 2.39M.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts