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Fly News Breaks for December 17, 2019
Dec 17, 2019 | 08:41 EDT
SunTrust analyst Joon Lee raised his price target on Axsome Therapeutics to $100 and kept his Buy rating, saying its topline Phase 3 GEMINI data for AXS-05 in major depressive disorder, or MDD, is "as good as we could have hoped for" and bodes well for the ongoing STRIDE-1 study assessing efficacy and safety. The analyst believes that the consistency of the findings between Phase 2 ASCENT and Phase 3 GEMINI should be sufficient for an AXS-05 NDA submission for MDD in the second half of 2020, with added bullish prospects for the "highly lucrative indications of Alzheimer's disease agitation".
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