Axsome Therapeutics (AXSM) PT Raised to $220 at Oppenheimer

Oppenheimer analyst Jay Olson raised the price target on Axsome Therapeutics (NASDAQ: AXSM) to $220.00 (from $190.00) while maintaining a Outperform rating.

The analyst commented: "We see FDA's acceptance of the sNDA for Auvelity in ADA with priority review as representing the best-case scenario, driving today's outperformance (AXSM +20% vs. XBI flat). We believe the differentiated benefit/risk profile with strong efficacy and favorable safety in these elderly Alzheimer's patients with agitation symptoms, especially relative to incumbent Rexulti and atypical antipsychotics used off-label, supported FDA's decision for an expedited review. We now anticipate AXSM to accelerate launch priorities ahead of the 4/30/2026 PDUFA date, and view several commercial synergies as remaining underappreciated. We update our model reflecting the earlier launch timing and our incremental confidence, driving our new $220PT from $190 prior. Additionally, we see the potential launch of AXS-12 in narcolepsy as undervalued with NDA submission now expected in January."

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