- Mizuho Securities takes cover from Axsome Therapeutics Inc AXSMwith a Buy rating and a target price of $76, a 25% uptrend from the last close, is 55% above the initial price target of $49.
- Analyst is conservative on earnings versus consensus in the short-medium term. It’s also below consensus on the cost/expense side, finding the benefit of Axsome’s disciplined approach to spending.
- Related: Boxed warning labels may not hamper broad market penetration of this depression drug, says one analyst.
- Mizuho sees modest novelty in AXSM’s candidates, and the markets it addresses show significant branded and generic competition.
- The analyst also notes that given the large markets (eg, major depressive disorder and migraine) and the limited efficacy seen with current standards of care, there is a potentially significant opportunity.
- Price promotion: AXSM shares are up 0.22% to $60.92 as of last check Wednesday.
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