Truist analyst Joon Lee keeps a Buy rating and $150 price target on Axsome Therapeutics (AXSM) while noting that the firm is an “aggressive buyer” of the stock after the “positive” Phase 3 results in Alzheimer’s disease agitation. The firm notes that it is not worried that ADVANCE-2 missed statistical significance as anticipation is a common risk, especially for neurospsych trials, with news of efficacy from earlier trials starting to spread. Given AXS-05’s Breakthrough Designation conferred based on positive ADVANCE-1 results and consequent frequent dialogue with the FDA, Truist does not expect much surprises in the new drug application submission and review, the analyst tells investors in a research note.
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Read More on AXSM:
- Axsome data ‘mixed’ but sufficient for approval, says H.C. Wainwright
- Axsome data support Alzheimer’s agitation approval, says Wells Fargo
- 3 Best Stocks to Buy Now, 12/31/2024, According to Top Analysts
- Morgan Stanley still ‘positively inclined’ on Axsome Therapeutics’ AXS-05
- Axsome mixed agitation data creates ‘most confusion,’ says Leerink
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
