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Fly News Breaks for December 16, 2019
AXSM, SAGE
Dec 16, 2019 | 16:37 EDT
Piper Jaffray analyst Danielle Brill says nothing has really changed with Sage Therapeutics' (SAGE) SAGE-217 after Axsome Therapeutics (AXSM) announced positive Phase 3 data for AXS-05 in major depressive disorder. Though Axsome's data are "impressive," SAGE-217's rapid onset of action is differentiated, and ultimately there is "plenty of room" for both agents in the space, Brill tells investors in a research note. Further, the analyst adds that SAGE-217's profile is "uniquely suited" for post-partum depression, and that see expects no impact from Axsome in that setting/ Brill remains optimistic that Sage will be successful in future trials and she reiterates an Overweight rating on the shares with a $125 price target. The stock closed Monday down 4% to $70.00.
News For SAGE;AXSM From the Last 2 Days
AXSM
Mar 28, 2024 | 06:39 EDT
Mizuho raised the firm's price target on Axsome Therapeutics to $109 from $108 and keeps a Buy rating on the shares. The analyst sees a "significant data catalyst" in the second half of 2024 with the ADVANCE-2 data for AXS-05 in Alzheimer's agitation.
AXSM
Mar 26, 2024 | 07:23 EDT
RBC Capital analyst Leonid Timashev raised the firm's price target on Axsome Therapeutics to $128 from $123 and keeps an Outperform rating on the shares. The analyst cites the company's topline data from its phase 3 SYMPHONY trial of AXS-12 in cataplexy, with the drug showing a clear statistically significant hit on the primary endpoint, along with positive improvements in sleepiness, mood, and cognition and a clean safety profile. The readout has been less of a focus for investors, but the data clears the bar for a regulatory approval, while key opinion leader interest suggests that there should be at least a $350M commercial opportunity for the drug, RBC tells investors in a research note.