- Axsome Therapeutics (AXSM, Financial) faces a setback with the FDA's refusal to review its fibromyalgia drug application.
- Analysts predict a significant upside potential, with an average target price of $176.53.
- The stock currently holds an "Outperform" rating, promising growth despite recent hurdles.
Axsome Therapeutics (AXSM) experienced a 4% dip in premarket trading following the FDA's decision to decline the review of its drug application for AXS-14, intended to treat fibromyalgia. The primary reason cited was the inadequacy of the trial data. Addressing the regulatory body's feedback, Axsome Therapeutics is initiating a new trial slated for late 2025, incorporating a fixed-dose and a 12-week endpoint to align with FDA expectations.
Wall Street Analysts Forecast
According to projections from 17 analysts, Axsome Therapeutics Inc (AXSM, Financial) is expected to have an average price target of $176.53 over the next year. This includes a high estimate of $210.00 and a low estimate of $146.00. The current price of $109.40 suggests a potential upside of 61.36%. Investors can explore more detailed estimates on the Axsome Therapeutics Inc (AXSM) Forecast page.
The consensus from 18 brokerage firms positions Axsome Therapeutics Inc (AXSM, Financial) with an average brokerage recommendation of 1.7, which translates to an "Outperform" status. This rating scale spans from 1 to 5, where 1 signifies a Strong Buy and 5 denotes a Sell recommendation, reflecting a positive sentiment towards the stock's future performance.
In terms of valuation, GuruFocus estimates the GF Value for Axsome Therapeutics Inc (AXSM, Financial) at $259.61 within a year, pointing to a substantial upside of 137.3% from the current price of $109.40. The GF Value represents GuruFocus' assessment of the stock's fair trading value. This valuation is derived from historical trading multiples, past business growth, and future business performance forecasts. For a deeper dive into the stock's metrics, visit the Axsome Therapeutics Inc (AXSM) Summary page.
