Ladenburg Thalmann analyst Matthew Kaplan maintains $Axsome Therapeutics (AXSM.US)$ with a buy rating, and adjusts the target price from $173 to $175.
According to TipRanks data, the analyst has a success rate of 47.0% and a total average return of 13.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Axsome Therapeutics (AXSM.US)$'s main analysts recently are as follows:
Following a third-quarter update that presented a revenue surpassing expectations and positive developments in the pipeline, sentiments on Axsome Therapeutics remain optimistic. Clarifications regarding the schedule of two concurrent Phase 3 Auvelity ADA trials have delineated the timeline for upcoming catalyst events, with expectations for simultaneous study outcomes in the fourth quarter. It's believed that achieving success in either one of the two ADA trials would be sufficient to dispel any lingering concerns about the regulatory outlook for this significant label expansion.
The third quarter of 2024 saw robust performance, largely driven by a significant increase in Auvelity sales. The company remains a favored choice due to the anticipation of several key events that could positively influence its stock by the close of the fourth quarter of 2024.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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