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Mizuho Bolsters Price Target By 55% On This Migraine Stock

·1 min read
  • Mizuho Securities assumes coverage of Axsome Therapeutics Inc (NASDAQ: AXSM), with a Buy rating and a price target of $76, representing a 25% upside from the last close is 55% above the initial price target of $49.

  • The analyst is conservative on revenues relative to consensus over the near- and mid-term. It is also below consensus on the cost/expense side, finding merit in Axsome's disciplined spending approach.

  • Related: Boxed Warnings May Not Hinder This Depression Drug's Broad Market Penetration, Analyst Says.

  • Mizuho sees modest novelty in AXSM's candidates, and the markets it addresses feature meaningful branded and generic competition.

  • The analyst also notes that a potentially significant opportunity exists given large markets (e.g., major depressive disorder and migraine) and limited efficacy seen with current standards of care.

  • Price Action: AXSM shares are up 0.22% at $60.92 on the last check Wednesday.

Latest Ratings for AXSM

Date

Firm

Action

From

To

Mar 2022

SVB Leerink

Maintains

Outperform

Nov 2021

SVB Leerink

Maintains

Outperform

Aug 2021

HC Wainwright & Co.

Maintains

Buy

View More Analyst Ratings for AXSM

View the Latest Analyst Ratings

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