Axsome's Auvelity Continues Positive Launch Trend, Mizuho Says

MT Newswires Live09-26 01:42

Axsome Therapeutics (AXSM) may benefit from continued momentum for its depression and Alzheimer's agitation treatment Auvelity, with prescription data showing solid weekly growth, Mizuho said Friday in a report.

Data from Bloomberg Symphony and IQVIA indicated double-digit percentage increases in total and new prescriptions, suggesting Auvelity's launch in Alzheimer's agitation is off to an encouraging start, the report said.

The positive trends emerge as competitor Acadia Pharmaceuticals (ACAD) reported weaker phase 2 results in Alzheimer's-related psychosis, which may help Axsome's positioning in the Alzheimer's and depression treatment markets, Mizuho said.

Mizuho maintained its outperform rating on Axsome with a $316 price target.

Price: 196.49, Change: +0.46, Percent Change: +0.23

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