Axsome Stock Climbs On Schizophrenia Drug Deal With Takeda

Axsome Therapeutics Inc. (NASDAQ:AXSM) shares are trading up on Wednesday as the company is expanding its portfolio with the acquisition of balipodect, a selective phosphodiesterase 10A inhibitor aimed at treating schizophrenia.

Schizophrenia Deal Terms And Clinical Background

Axsome Therapeutics on Wednesday obtained exclusive global rights to balipodect from Takeda Pharmaceutical Co. Ltd. (NYSE:TAK), which has completed a proof-of-concept Phase 2 trial involving 164 patients.

The acquisition enhances Axsome’s portfolio in the central nervous system (CNS) space, where it aims to develop balipodect for schizophrenia and Tourette syndrome, with plans for Phase 3 trial-enabling activities set to begin in 2026.

The selective PDE10A inhibitor has shown a favorable safety and tolerability profile in clinical studies involving over 360 individuals.

Under the agreement, Takeda will receive an upfront payment along with potential milestone payments and royalties based on future sales.

Industry Context

In February, the U.S. Food and Drug Administration (FDA) accepted Teva Pharmaceuticals Industries Ltd.’s (NYSE:TEVA) New Drug Application (NDA) for olanzapine extended-release injectable suspension.

The marketing application for TEV-‘749 is based on results from the Phase 3 SOLARIS trial, which demonstrated an efficacy and safety profile consistent with currently available olanzapine formulations.

Technical Analysis Signals Momentum

The stock is currently trading 8.3% above its 20-day simple moving average (SMA) and 6.7% above its 100-day SMA, indicating strong short-term momentum. Over the past 12 months, shares have increased by 55.67% and are currently positioned closer to their 52-week highs than lows.

The RSI is at 56.03, which is considered neutral territory, while the MACD shows a value of -2.1692, with the signal line at -3.5316, indicating a bullish crossover. This combination suggests that while the stock is not overbought, there is potential for upward momentum.

• Key Resistance: $191.00
• Key Support: $153.50

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $209.50. Recent analyst moves include:

• Guggenheim: Buy (Raises Target to $245.00) (Mar. 25)
• UBS: Buy (Raises Target to $251.00) (Feb. 24)
• Guggenheim: Buy (Raises Target to $220.00) (Feb. 24)

Top ETF Exposure

• Goldman Sachs ActiveBeta U.S. Small Cap Equity ETF (NYSE:GSSC): 0.30% Weight
• State Street SPDR S&P Pharmaceuticals ETF (NYSE:XPH): 2.18% Weight

AXSM Price Action: Axsome Therapeutics shares were up 3.19% at $174.41 at the time of publication on Wednesday, according to Benzinga Pro data.

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