Fly News Breaks for December 31, 2019
Dec 31, 2019 | 07:56 EDT
SunTrust analyst Joon Lee raised his price target on Axsome Therapeutics to $140 and kept his Buy rating, stating that yesterday's announcement of positive results from its AXS-07 phase 3 trial caps an "impressive" 2019 for the company. The analyst believes that 2020 will see continued momentum with several "value creating catalysts" and sees the $100 level in Axsome's stock price as a "new floor" given its portfolio of two "approvable drugs in lucrative indications" with combined peak sales potential of over $2B.
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