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Axsome Therapeutics rated buy by Aegis

June 20, 2017

In a report released today, Difei Yang from Aegis Capital reiterated a Buy rating on Axsome Therapeutics Inc (NASDAQ: AXSM), with a price target of $20. The company’s shares closed yesterday at $4.60.

Yang said:

“We believe Ms. Potter’s prior experience adds value to the Board of Directors for Axsome. Her career in healthcare spans more than 30 years with multiple leadership positions at several large pharmaceutical companies. As Axsome looks to report multiple phase III interim analysis and topline readouts over the next 24 months, her experience in the commercialization process should go a long way for management. Myrtle Potter – Prior experience. After starting her career with Procter and Gamble Patient Care Products, Ms. Potter went on to spend 14 years of her early career at Merck & Co. While holding positions of increasing responsibility at Merck, she started Astra Merck, a joint venture entity that later became AstraZeneca, and served as Vice President of Merck’s US pharmaceutical business unit with about $800 mil revenue. Ms. Potter also served as President of Bristol-Myers Squibb’s US Cardiovascular and Metabolic Business – a 3,500 person business segment with $3.5 billion annual revenue – for 4 years. From 2000 to 2005 she was President, Commercial Operations and Chief Operating Officer at Genentech. While at Genentech, Ms. Potter led the commercialization of a long list of products: Herceptin, Tarceva, Xolair, Avastin, Rituxan, Nutropin, Activase, and TNkase.”

Axsome Therapeutics Inc has an analyst consensus of Strong Buy, with a price target consensus of $15.67.


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