Investment bank Needham initiated coverage on Axsome Therapeutics with a Buy rating, predicting 8-10x revenue growth within 5 years.

Investment bank Needham initiated coverage on Axsome Therapeutics (NASDAQ: AXSM) with a Buy rating, predicting the company's risk-adjusted revenue growth to increase 8-10x within 5 years. Their forecasts include $1.45bn in sales for Auvelity for major depressive disorder in 2028 and $1bn in sales for late-stage drug candidates AXS-12, AXS-07, and AXS-14 by 2030. Needham emphasizes de-risked Phase 3 data for Alzheimer's agitation drug AXS-05.

July 22, 2024
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