Google Cloud secures £400 mln U.K. Ministry of Defence sovereign cloud deal
Investing.com - Wells Fargo initiated coverage on Axsome Therapeutics (NASDAQ:AXSM) with an Overweight rating and a price target of $163.00. According to InvestingPro data, this target aligns with broader analyst sentiment, as the stock currently maintains a Strong Buy consensus with targets ranging from $144 to $200.
The rating comes as Axsome prepares to submit a supplemental New Drug Application (sNDA) for its AXS-05 treatment for Alzheimer’s Disease Agitation in the third quarter of 2025.
Wells Fargo notes that success in this indication could potentially generate $1-3 billion in additional annual peak sales revenue for the company.
The firm acknowledges mixed clinical data for AXS-05, with one positive Phase 2/3 parallel study, two positive Phase 3 randomized withdrawal studies, and one negative Phase 3 parallel study.
Wells Fargo’s analysis includes research into the FDA’s Psychiatry division’s complete response letters over the past five years, examining cases where the agency required additional trials despite partial positive data.
In other recent news, Axsome Therapeutics reported its second-quarter 2025 earnings, exceeding Wall Street expectations. The company posted an earnings per share of -$0.97, outperforming the forecast of -$1.06, and revenues reached $150 million, surpassing the anticipated $139.31 million. Axsome also announced it received a Paragraph IV Certification Notice Letter from Apotex Inc., which has submitted an Abbreviated New Drug Application to the FDA for a generic version of Axsome’s drug, Symbravo. In response to this challenge, H.C. Wainwright reiterated its Buy rating with a price target of $180, while Mizuho maintained its Outperform rating with a $200 price target. Additionally, RBC Capital reiterated an Outperform rating on Axsome with a price target of $189, citing confidence in the potential approval of the company’s AXS-05 drug for Alzheimer’s agitation. RBC analyst Leonid Timashev highlighted the FDA’s flexibility regarding missed endpoints in neuro-psychiatric drugs as a supportive factor. Axsome plans to respond to the notice from Apotex in due course, as disclosed in a recent SEC filing. These developments reflect ongoing confidence from analysts in Axsome’s portfolio and future prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.