Axsome Therapeutics (AXSM)
Developer of CNS medicines for depression, Alzheimer’s agitation, daytime sleepiness, and migraine.
Something off on this page? Send us feedback.
Develops and sells CNS medicines for depression and Alzheimer’s agitation, excessive daytime sleepiness, and migraine, while advancing candidates for narcolepsy and other neurological and psychiatric conditions. Revenue is concentrated in U.S. product sales, and the business depends on FDA approval, payer access, and outsourced manufacturing and distribution.
Develops and commercializes medicines for central nervous system conditions through a single operating segment. Auvelity treats major depressive disorder and agitation associated with dementia due to Alzheimer’s disease; Sunosi treats excessive daytime sleepiness tied to narcolepsy or obstructive sleep apnea; and Symbravo treats acute migraine in adults.
Combines internal drug development with acquired and licensed assets, supported by a focused U.S. commercial organization. AXS-12, a narcolepsy candidate, is under FDA review, while other programs target fibromyalgia and additional neurological and psychiatric conditions. Product sales are concentrated in the United States, with Sunosi rights extending to international markets outside selected Asian countries.
Commercialization depends on regulatory approvals, payer coverage and reimbursement, patent protection, and third parties for manufacturing, clinical work, warehousing, and distribution.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 23, 2026 | Truist Financial | Target | Target: $200 | Target: $285 |
| Aug 12, 2026 | Mizuho Securities | Target | Target: $230 | Target: $316 |
| Aug 11, 2026 | RBC Capital | Reiterate | Rating: —Target: $304 | Target: $297 |
| Aug 11, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $242 | Target: $251 |
| Aug 11, 2026 | Needham | Reiterate | Rating: —Target: $267 | Target: $268 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $319.9M · Total debt $219.2M · Total assets $761.4M · Shareholders' equity $83.3M
- Revenue
- $218.4M
- Operating income
- −$49.6M
- Net income
- −$51.3M
No dividends on record.
| Institutions | ≈ 70.40% | 36.88M shares | |
|---|---|---|---|
| 539 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 0.29% | 151.1K shares | |
| 6 holders · as of Aug 7, 2026 | |||
| Other | ≈ 29.31% | 15.35M shares | |
| remainder | |||
52.38M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 5.93% | 3.10M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 3.79% | 1.98M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 3.75% | 1.97M | as of Jun 30, 2026 |
Invesco Ltd.Institution | 3.19% | 1.67M | as of Jun 30, 2026 |
FMR LLCInstitution | 2.94% | 1.54M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 3, 2026 | Mark L. Jacobson | officer: Chief Operating Officer | −10,000 | $208.65 |
| Aug 6, 2026 | Herriot Tabuteau | director, 10 percent owner, officer: Chief Executive Officer | −4,660 | $213.95 |
| Aug 5, 2026 | Herriot Tabuteau | director, 10 percent owner, officer: Chief Executive Officer | −45,004 | $212.01 |
| Jul 1, 2026 | Herriot Tabuteau | director, 10 percent owner, officer: Chief Executive Officer | −49,666 | $240.25 |
| Jun 11, 2026 | Roger Jeffs | director | −286 | $249.12 |
- Johnson & Johnson
Spravato and Caplyta contest Auvelity across MDD, TRD, and schizophrenia.
- Jazz Pharmaceuticals
Dominant narcolepsy franchise with Xywav directly competing with Sunosi.
- Harmony Biosciences
Pure-play narcolepsy company; Wakix targets the same EDS patients as Sunosi.
- Neurocrine Biosciences
Phase 3 MDD and schizophrenia programs directly challenge Auvelity and pipeline.
- AbbVie
Dominant gepant franchise and Vraylar adjunct bracket Symbravo and Auvelity.
- Acadia Pharmaceuticals
CNS neuropsychiatric peer with MDD and Alzheimer's-disease pipeline overlap.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Axsome Therapeutics | $200.14 | −1.46% | $10.45B | — | 1,194.1 | 13.5 | +44.2% |
| Johnson & Johnson | $271.24 | +0.76% | $648.72B | 31.2 | 22.9 | 6.6 | +6.6% |
| Jazz Pharmaceuticals | $241.14 | +0.24% | $15.11B | 16.4 | 9.6 | 3.3 | +15.6% |
| Harmony Biosciences | $41.59 | +0.14% | $2.40B | 13.5 | 10.4 | 2.5 | +30.3% |
| Neurocrine Biosciences | $141.66 | −0.41% | $14.30B | 20.9 | 15.5 | 4.2 | +39.5% |
| AbbVie | $267.20 | +0.75% | $468.77B | 74.8 | 17.6 | 7.3 | +10.2% |
| Acadia Pharmaceuticals | $25.87 | −2.04% | $4.52B | 11.9 | 28.9 | 4.0 | +16.4% |
| Median | 18.7 | 16.5 | 4.1 | +16.0% |