H.C. Wainwright analyst Raghuram Selvaraju raised his price target for Axsome Therapeutics to $15 after the company announced that the Phase 2 Ascend trial of AXS-05, its proprietary combination of dextromethorphan and bupropion, in major depressive disorder had met its primary endpoint. The analyst views these data as “highly encouraging, particularly given the relatively small size of the trial.” AXS-05’s clear separation from bupropion underscores the differentiated profile of Axsome’s candidate, says Selvaraju. He keeps a Buy rating on Axsome Therapeutics.
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