Mizuho analyst Graig Suvannavejh reiterated an Outperform rating and $230.00 price target on Axsome Therapeutics (NASDAQ: AXSM)

The analyst commented, "This morning, prescription (Rx) data for AXSM's Auvelity were made available for the week ending Friday, March 20, 2026 (week 179 of the Auvelity launch), with IQVIA reporting 16,777 TRxs/9,970 NRxs (-2%/-2% w/w), compared to last week's 17,162 TRxs/9,906 NRxs. Separately, the weekly Rx data for Symbravo also were released, with IQVIA reporting 1,298 TRxs/587 NRxs (+11%/-4% w/w) for the week ending Friday, March 20, 2026 (week 41 of the Symbravo launch), compared to last week's 1,174 TRxs/610 NRxs... Following the steady growth seen over weeks 176-178, (LINK), we saw Auvelity TRxs/NRx decline slightly, with w/w growth of -2%/-2% in week 179, according to IQVIA. The Bloomberg Symphony Auvelity Rx data showed a similar trend, with w/w TRx/NRx growth of -2%/-3%. Based on the IQVIA data, Auvelity lagged behind the anti-depressant analogs (+1%/+2% TRx/NRx) and showed a mixed trend compared to the atypical antipsychotic analogs (-3%/0% TRx/NRx), though we note w/w jumps for seldom prescribed Viibryd and Latuda as driving outsized w/w trends for the antidepressants and atypical antipsychotics, respectively; when removing these outliers, w/w growth for anti-depressants (-1%/-1% TRx/NRx) and antipsychotics (-1%/-1% TRx/NRx)."

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Shares of Axsome Therapeutics closed at $164.27 yesterday.