Leerink Partners Keeps Bullish Stance on Axsome Therapeutics with Buy Rating

Leerink Partners analyst Marc Goodman maintains a Buy rating on Axsome Therapeutics (AXSM) stock, citing a promising pipeline and potential sales growth. Goodman is optimistic about the anticipated submission of the sNDA for Auvelity in Alzheimer's disease agitation and NDA submission for AXS-12 targeting cataplexy in narcolepsy. He expects seven approvals by 2028, which could boost sales, particularly with the Alzheimer's indication potentially adding over $1 billion in revenue.

Leerink Partners analyst Marc Goodman has maintained his Buy rating on Axsome Therapeutics (AXSM) stock, citing a promising pipeline and potential sales growth. Goodman's optimism is driven by the company's advanced clinical programs and the potential for substantial sales growth, particularly in the Alzheimer's disease indication.

Goodman expects Axsome Therapeutics to submit the supplemental New Drug Application (sNDA) for Auvelity in Alzheimer's disease agitation by the third quarter of 2025. Additionally, the company is on track to submit the New Drug Application (NDA) for AXS-12 targeting cataplexy in narcolepsy in the second half of 2025. Goodman is encouraged by the company's expectation of achieving seven approvals by 2028, which underscores the advanced stage of many of its pipeline assets.

The potential for these developments to significantly boost sales is a key factor in Goodman's positive outlook. The Alzheimer's indication, in particular, has the potential to add over $1 billion in revenue, further supporting the Buy rating. Overall, Goodman's positive outlook is driven by the robust late-stage pipeline and the potential for substantial sales growth.

In another report released yesterday, Needham also maintained a Buy rating on the stock with a $150.00 price target.

References:
[1] https://www.tipranks.com/news/ratings/optimistic-outlook-for-axsome-therapeutics-promising-pipeline-and-potential-sales-growth-drive-buy-rating-ratings?utm_medium=referral&utm_source=edition.cnn.com