Mizuho Reiterates Outperform Rating on Axsome Therapeutics (AXSM)

Mizuho analyst Graig Suvannavejh reiterated an Outperform rating and $106.00 price target on Axsome Therapeutics (NASDAQ: AXSM).

The analyst commented: "Recently, we hosted a Mizuho expert call on intellectual property/IP and patent matters for our coverage universe of biopharma companies, with a high-level summary previously published. The purpose of the call was to revisit ongoing patent challenges that AXSM is currently facing for both its current commercialized products (Auvelity and Sunosi), and provide key updates from the perspective of a law professor who is an IP expert. Overall, we left the call with continued confidence in AXSM's ability to defend its Auvelity and Sunosi franchises from generic challengers, and ahead of two major Phase 3 data readouts that are expected later this year (one for each product) — which on positive data we believe could result in significant value inflection — we reiterate our OP rating on AXSM, both an overall 2024 top pick and also a September 2024 top pick."

For an analyst ratings summary and ratings history on Axsome Therapeutics click here. For more ratings news on Axsome Therapeutics click here.

Shares of Axsome Therapeutics closed at $92.69 yesterday.

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