Axsome Therapeutics Inc (AXSM) Receives a Buy from H.C. Wainwright

H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Axsome Therapeutics Inc (AXSMResearch Report) today and set a price target of $30. The company’s shares closed on Friday at $24.17, close to its 52-week high of $26.45.

Selvaraju commented:

“We utilize a risk-adjusted net present value (rNPV) approach to assessing Axsome shares. We apply a 20% discount rate to all future cash flows along with a 28.1% effective tax rate and 33% sales and marketing rate.”

According to TipRanks.com, Selvaraju is a 3-star analyst with an average return of 3.1% and a 33.0% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries Ltd., Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Axsome Therapeutics Inc with a $33 average price target.

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The company has a one-year high of $26.45 and a one-year low of $1.94. Currently, Axsome Therapeutics Inc has an average volume of 1.35M.

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Axsome Therapeutics, Inc. is a clinical stage biopharmaceutical company, which engages in developing novel therapies for the management of central nervous system disorders. Its product candidates include AXS-02 and AXS-06 which are developing for multiple indications.