Analysts Think Axsome Therapeutics Stock Could Soar 35% Over the Next 12 Months. Is the Stock a No-Brainer Buy?
Or are its best days in the rearview mirror?
Axsome Therapeutics (NASDAQ: AXSM) has experienced a remarkable 660% increase in its stock price over the past five years, and Wall Street analysts continue to be bullish on the company's future potential. The average price target for AXSM, according to Yahoo! Finance, stands at $285.42, suggesting a 35% upside from its current level.
With solid financial performance and promising growth drivers, some analysts argue that AXSM could soar 35% over the next 12 months. In the second quarter, AXSM's revenue surged by 46% year-over-year to $218.4 million, with Auvelity, the company's key growth driver, leading the charge. Auvelity's sales increased by 51% compared to the previous year, reaching $180.3 million.
Moreover, Auvelity recently secured a label expansion in Alzheimer's disease agitation, a development that adds millions of additional patients to its addressable market.
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