AXSM - Axsome Depression Drug's Commercial Success Pipeline Potential Undervalued Analyst Says | Benzinga
RBC Capital initiated coverage on Axsome Therapeutics Inc (NASDAQ:AXSM), citing that its near-term revenue growth and pipeline optionality are underappreciated.
RBC Capital says Auvelity, a key value driver, is demonstrating strong Rx growth, leading it to anticipate sales reaching $296 million in 2024, surpassing the consensus estimate of $272 million.
This optimistic projection is attributed to the swift adoption of Auvelity (indicated for major depressive disorder), driven by its rapid-acting profile, which resonates well with patients and prescribers.
The company’s overall appeal lies in the successful launch of Auvelity, consistent cash flows from Sunosi (excessive daytime sleepiness due to obstructive sleep apnea or narcolepsy), and the underestimated potential of its pipeline.
RBC analysts anticipate that the strong support from physicians, with up to 10% first-line usage, ...