Axsome Therapeutics price target raised to $20 from $16 at BTIG

BTIG analyst Robert Hazlett raised his price target on Axsome Therapeutics to $20 and kept his Buy rating after the release of its AXS-05 data findings showing “rapid, sustained efficacy” in Phase 2 trial for patients with major depressive disorder. The analyst says his new price target reflects the net present value update in the company’s major depressive disorder, adding that the expected 2019 readouts by Axsome Therapeutics – including the phase 3 data for AXS-05 for treatment resistant depression and Phase 2/3 ADVANCE-1 trial data in agitation in Alzheimer’s – could be potential catalysts for the stock. https://thefly.com/landingPageNews.php?id=2845549