Axsome Therapeutics Inc Receives a Buy from Aegis Capital

By Ryan Adsit

In a report released today, Difei Yang from Aegis Capital reiterated a Buy rating on Axsome Therapeutics Inc (NASDAQ: AXSM), with a price target of $20. The company’s shares closed yesterday at $4.60.

Yang said:

“We believe Ms. Potter’s prior experience adds value to the Board of Directors for Axsome. Her career in healthcare spans more than 30 years with multiple leadership positions at several large pharmaceutical companies. As Axsome looks to report multiple phase III interim analysis and topline readouts over the next 24 months, her experience in the commercialization process should go a long way for management. Myrtle Potter – Prior experience. After starting her career with Procter and Gamble Patient Care Products, Ms. Potter went on to spend 14 years of her early career at Merck & Co. While holding positions of increasing responsibility at Merck, she started Astra Merck, a joint venture entity that later became AstraZeneca, and served as Vice President of Merck’s US pharmaceutical business unit with about $800 mil revenue. Ms. Potter also served as President of Bristol-Myers Squibb’s US Cardiovascular and Metabolic Business – a 3,500 person business segment with $3.5 billion annual revenue – for 4 years. From 2000 to 2005 she was President, Commercial Operations and Chief Operating Officer at Genentech. While at Genentech, Ms. Potter led the commercialization of a long list of products: Herceptin, Tarceva, Xolair, Avastin, Rituxan, Nutropin, Activase, and TNkase.”

According to TipRanks.com, Yang is a 4-star analyst with an average return of 7.5% and a 47.5% success rate. Yang covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Fennec Pharmaceuticals Inc, and Spectrum Pharmaceuticals.

Axsome Therapeutics Inc has an analyst consensus of Strong Buy, with a price target consensus of $15.67.

The company has a one year high of $9.11 and a one year low of $3.53. Currently, Axsome Therapeutics Inc has an average volume of 281.2K.

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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. The company was founded by Herriot Tabuteau on January 12, 2012 and is headquartered in New York, NY.