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Fly News Breaks for December 30, 2019
Dec 30, 2019 | 09:00 EDT
H.C. Wainwright analyst Raghuram Selvaraju raised his price target on Axsome Therapeutics shares to $200 from $170 after the company announced that AXS-07 met both regulatory co-primary endpoints and significantly improved migraine pain and most bothersome symptoms as compared to placebo in the Phase 3 MOMENTUM trial. He thinks the MOMENTUM data substantially increases the probability of approval and success for AXS-07, giving the company "three shots on goal" when paired with AXS-05 for major depressive disorder and AXS-12 for narcolepsy. Selvaraju keeps a Buy rating on Axsome shares.
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