UPDATE: Brean Capital Assumes Axsome Therapeutics (AXSM) at Buy
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
(Updated - October 3, 2016 10:04 AM EDT)
Brean Capital assumed coverage on Axsome Therapeutics (NASDAQ: AXSM) with a Buy rating and a price target of $20.
Analyst Difei Yang said, "The company’s leading product candidate is AXS-02, a targeted non-opioid therapeutic in development for chronic pain. AXS-02 is in trials across 3 designations, complex regional pain syndrome (CRPS), knee osteoarthritis (OA) with bone marrow lesions (BMLs), and chronic lower back pain (CLBP) with modic changes (MC). Axsome’s other product candidate, AXS-05, is in trials indicated for treatment resistant depression (TRD) and agitation in Alzheimer’s disease (AD). The company has lined up a series of catalysts for 4Q16 and 2017: 1) AXS-02 vs. CRPS Phase III trial (CREATE-1) interim analysis in 4Q16; 2) IND filing for AXS-05 vs. AD Phase II/III in 4Q16; and 3) CREATE-1 trial completion by YE 2017. We see the value drivers, CPRS, TRD, and AD, possessing lower-than-average R&D risks and a proven business model that lends itself to a shorter line to commercialization. As such, we assume coverage with a BUY rating and $20 TP."
Shares of Axsome Therapeutics closed at $7.88 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- PayPal (PYPL) PT Raised to $47 at Credit Suisse; Results Just 'Ok' But Visability Increases Conviction
- RBC Capital Raises Price Target on Benchmark Electronics (BHE) Following In-Line 3Q
- Maxim Integrated (MXIM) PT Bumped to $45 at Jefferies Following In-Line Results on Note 7 Impact
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, New Coverage
Related EntitiesBrean Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!