In a report released today, Charles Duncan from Cantor Fitzgerald reiterated a Buy rating on Axsome Therapeutics Inc (AXSM), with a price target of $16. The company’s shares closed on Friday at $2.95.
Duncan said:
“We reiterate our Overweight rating and $16 PT on AXSM shares. 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 -1.2% and a 42.0% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Axsome Therapeutics Inc with a $20 average price target, implying a 578.0% upside from current levels. In a report issued on December 5, H.C. Wainwright also reiterated a Buy rating on the stock with a $10 price target.
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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 247.9K.
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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.
