Mizuho on Axsome Therapeutics (AXSM): 'recommend buying ahead of AXSM's 3Q print'

Mizuho analyst Graig Suvannavejh reiterated an Outperform rating and $316.00 price target on Axsome Therapeutics (NASDAQ: AXSM).

The analyst comments "Ahead of AXSM's 3Q26 earnings on 11/2, we provide a quarterly preview, and further, revisit the Auvelity launch in Alzheimer's disease agitation/ADA (the #1 focus for investors). For 3Q, we adjust our total revenue estimate to $251.5mn — 2% lower than our prior $257.4mn, but still slightly ahead of consensus of $251.0mn — while for Auvelity (the only one amongst AXSM's three marketed products that really matters to investors), our revenue forecast moves to $208.9mn (vs. $213.1mn prior). On the ADA launch, with July-August-Sept. monthly Rx data now in-hand, we again provide a deep drive — and by our analysis, early trends remain quite positive. As such, and with AXSM shares -37% (vs. +15% for the XBI) since achieving all-time highs in mid-June (mainly, we believe, on misplaced initial ADA launch trajectory expectations, and also, perhaps, recent buy-side de-grossing), we remain OP-rated and recommend buying ahead of AXSM's 3Q print."

For an analyst ratings summary and ratings history on Axsome Therapeutics click here. For more ratings news on Axsome Therapeutics click here.

Shares of Axsome Therapeutics closed at $159.58 yesterday.

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