Ladenburg Thalmann analyst Matthew Kaplan raised his price target for Axsome Therapeutics (AXSM) to $165 from $139 after the company entered into an exclusive license agreement with Pfizer (PFE) for Pfizer's clinical and nonclinical data, and intellectual property for reboxetine. The analyst believes the deal will accelerate the development of AXS-12 by "obviating the need" for certain reboxetine preclinical and clinical long-term safety studies that would have taken up to two years to complete. Axsome receives exclusive U.S. rights from Pfizer to develop and commercialize esreboxetine, renamed AXS-14, for the treatment of fibromyalgia and for other indications, the analyst points out. Kaplan reiterates a Buy rating on Axsome Therapeutics.