Investors may want to keep an eye on AXSM.
For one, if it can break above $70 resistance, it could run. In fact, with all of the momentum behind it, we’d like to see it rally back to $82.50 by midyear. Two, analysts at Mizuho recently noted that briefing documents from a US FDA panel reviewing “Otsuka’s Rexulti for the treatment of Alzheimer’s disease agitation offer positive read-throughs for Axsome Therapeutics (AXSM) and BioXcel Therapeutics (BTAI),” as noted by TheFly.com.
Additionally, “The FDA appears interested and willing to approve a first drug for Alzheimer’s agitation, which may reflective of its appreciation of the unmet medical need and lack of an approved treatment. Given differences versus Rexulti, both Axsome’s Auvelity and BioXcel’s Igalmi, though a few years behind, “can nonetheless meaningfully differentiate,” contends Mizuho. It reiterates Buy rating on both stocks.”