Axsome Therapeutics (NASDAQ: AXSM) was featured in a recent equity research report published by Mizuho Securities USA LLC. The report reads, “Axsome reported a 4Q20 EPS loss of ($0.78), essentially in line with consensus’ ($0.77) but worse than our ($0.60). However, quarterly earnings are not as important as the company hitting its clinical/regulatory milestones. The important positive news was confirmation the AXS-05 NDA in MDD has been filed with the FDA, while the AXS-07 filing in acute migraine was pushed slightly from 1Q 2021 to early 2Q. We expect AXS-05 to obtain a Priority Review, and expect the stock to rise as investors come to appreciate AXS-05’s potential in depression and AD agitation, and AXS-07’s potential in acute migraine. We reiterate our Buy rating but lower our PT to $118, driven by increase in spending assumptions.”
To request access to the full report, visit https://ibn.fm/VNdLG
About Axsome Therapeutics, Inc.
Axsome Therapeutics, Inc. is a biopharmaceutical company developing novel therapies for the management of central nervous system (“CNS”) disorders for which there are limited treatment options. For the many people facing unsatisfactory treatments for CNS disorders, Axsome accelerates the invention and adoption of life-changing medicines. Axsome’s core CNS product candidate portfolio includes five clinical-stage candidates, AXS-05, AXS-07, AXS-09, AXS-12, and AXS-14. AXS-05 is being developed for major depressive disorder (“MDD”), Alzheimer’s disease (“AD”) agitation, and as a treatment for smoking cessation. AXS-07 is being developed for the acute treatment of migraine. AXS-12 is being developed for the treatment of narcolepsy. AXS-14 is being developed for fibromyalgia. AXS-05, AXS-07, AXS-09, AXS-12, and AXS-14 are investigational drug products not approved by the FDA. For more information, please visit the Company’s website at axsome.com. The company may occasionally disseminate material, nonpublic information on the company’s website at https://axsome.com.
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