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Investing.com - Cantor Fitzgerald maintained its Overweight rating and $153.00 price target on Axsome Therapeutics (NASDAQ:AXSM) in a research note released Tuesday. The target aligns with the broader analyst consensus, as InvestingPro data shows analyst targets ranging from $144 to $200, with the stock currently trading at $116.78.
The research firm slightly reduced its projected revenue ramp for Sunosi, Axsome’s narcolepsy and obstructive sleep apnea medication.
This adjustment led to minor decreases in the firm’s earnings per share estimates for 2025 and 2026.
Despite these modest revisions to future earnings projections, Cantor Fitzgerald kept its Overweight rating unchanged.
The $153.00 price target also remains intact, suggesting potential upside for the biopharmaceutical company focused on developing therapies for central nervous system conditions.
In other recent news, Axsome Therapeutics has been actively engaged in several developments. The company is preparing to submit a supplemental New Drug Application for its AXS-05 treatment for Alzheimer’s Disease Agitation in the third quarter of 2025. This move has been positively received by Wells Fargo, which initiated coverage on Axsome with an Overweight rating and a price target of $163.00. Meanwhile, Axsome is facing a generic challenge for its Symbravo medication, as Apotex Inc. has submitted an Abbreviated New Drug Application to the FDA for a generic version. In response to this, H.C. Wainwright reiterated its Buy rating with a $180.00 price target, while Mizuho maintained its Outperform rating and set a $200.00 price target. RBC Capital also reiterated an Outperform rating, citing confidence in the potential approval of the AXS-05 drug for Alzheimer’s agitation, with a price target of $189.00. Axsome has indicated plans to respond to the notice letter regarding the generic challenge in due course.
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