Mizuho Bolsters Price Target By 55% On This Migraine Stock - Axsome Therapeutics (NASDAQ:AXSM)

Mizuho Securities assumes coverage of Axsome Therapeutics Inc AXSM, with a Buy rating and a price target of $76, representing a 25% upside from the last close is 55% above the initial price target of $49.
The analyst is conservative on revenues relative to consensus over the near- and mid-term. It is also below consensus on the cost/expense side, finding merit in Axsome's disciplined spending approach.
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Mizuho sees modest novelty in AXSM's candidates, and the markets it addresses feature meaningful branded and generic competition.
The analyst also notes that a potentially significant opportunity exists given large markets (e.g., major depressive disorder and migraine) and limited efficacy seen with current standards of care.
Price Action: AXSM shares are up 0.22% at $60.92 on the last check Wednesday.