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Investing.com - Mizuho (NYSE:MFG) has reiterated an Outperform rating on Axsome Therapeutics (NASDAQ:AXSM) with a price target of $180.00 following the company’s Brain Health R&D Day event.
The research firm highlighted how Axsome is establishing itself as a significant player in the central nervous system (CNS) treatment space, with multiple synergistic opportunities across its portfolio. The company’s strategy appears to be paying off, with impressive revenue growth of 72% and industry-leading gross profit margins of 91%.
Mizuho noted three key opportunities for Axsome, including the potential for both AUVELITY (dextromethorphan/bupropion) and SUNOSI (solriamfetol) in major depressive disorder (MDD).
The firm also pointed to possibilities for deploying both solriamfetol and AXS-12 (reboxetine) in sleep disorders, including narcolepsy, as another significant opportunity area.
Additionally, Mizuho emphasized Axsome’s ability to drive commercial uptake of SYMBRAVO (rizatriptan/meloxicam) in migraine and AXS-14 (esreboxetine) in fibromyalgia, with a focus on addressing pain conditions.
In other recent news, Axsome Therapeutics announced plans to host its Frontiers in Brain Health R&D Day on July 21, 2025, in New York City. The event will highlight the company’s late-stage central nervous system pipeline, with discussions led by key opinion leaders and management. Axsome recently received a Refuse to File letter from the U.S. Food and Drug Administration regarding its New Drug Application for AXS-14, intended for fibromyalgia treatment. The FDA requested a confirmatory Phase III trial, as one of the studies in the application did not meet its standards. Despite this, Piper Sandler and H.C. Wainwright maintained their Overweight ratings on Axsome stock, with price targets of $148 and $180, respectively. Mizuho also reiterated its Outperform rating with a $210 price target ahead of the company’s R&D Day. Additionally, Morgan Stanley (NYSE:MS) assumed coverage of Axsome with an Overweight rating and a $190 price target, focusing on the upcoming supplemental New Drug Application filing for AXS-05 in Alzheimer’s disease agitation. These developments reflect ongoing interest and analysis from investment firms despite regulatory challenges.
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