H.C. Wainwright Believes Axsome Therapeutics Inc (AXSM) Still Has Room to Grow


In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Axsome Therapeutics Inc (AXSM), with a price target of $15. The company’s shares closed yesterday at $8.33, close to its 52-week high of $9.16.

Selvaraju noted:

“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 is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -15.8% and a 23.6% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Axsome Therapeutics Inc with a $17 average price target.

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The company has a one-year high of $9.16 and a one-year low of $1.94. Currently, Axsome Therapeutics Inc has an average volume of 1.92M.

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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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