Needham added Axsome Therapeutics (AXSM) to the firm’s Conviction List while removing Blueprint Medicines (BPMC). Axsome’s lead asset Auvelity should continue to grow in major depressive disorder, driven by expanded sales and payer coverage, and AXS-05 has two Phase 3 data readouts in Alzheimer’s agitation by the end of 2024 supporting approval the analyst tells investors in a research note. In addition, the firm sees a strong catalyst path over the next 12 months driven by AXS-07’s EMERGE data in migraine and the January 31, 2025, FDA action date. For Blueprint, Needham sees continued momentum in the stock driven by execution on Ayvakit in systemic mastocytosis and initial clinical data for BLU-808.
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- Axsome Therapeutics price target raised to $175 from $173 at Ladenburg
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- Axsome Therapeutics’ Strong Q3 Growth Amidst Strategic Expansions
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
