Piper Sandler Maintains Overweight on Axsome (AXSM), Sees Growth in AD-Agitation

Axsome Therapeutics Inc. (NASDAQ:AXSM) ranks among the best biotech stocks to buy. Following a recent discussion with the senior management at Axsome Therapeutics Inc. (NASDAQ:AXSM), Piper Sandler reiterated its Overweight rating on the company and set a price target of $148 on its shares. The firm learned about Axsome’s commercial support methods for Auvelity in major depressive disorder (MDD) and its possible extension into agitation associated with Alzheimer’s disease (AD-agitation).

With management anticipating a supplemental New Drug Application submission this quarter, Piper Sandler stated that Axsome’s sales and marketing expenditures will keep on rising, including workforce expansion tied to the expected label expansion for AD-agitation.

Despite rising costs, the firm expects strong operating leverage over time, owing to significant market possibilities in both MDD and AD-agitation, as well as attractive payer access to Auvelity in the MDD environment.

Axsome Therapeutics Inc. (NASDAQ:AXSM) is a clinical stage biopharmaceutical company that contributes to the creation of novel therapies for disorders of the central nervous system.

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Disclosure: None. This article is originally published at Insider Monkey.