Axsome Therapeutics (AXSM) Reports Q4 2025 Net Revenue of ~$196M, 65% Y/Y Growth

Written by Emily J. Thompson, Senior Investment Analyst

AXSM+4.59%

Source: seekingalpha

Updated: 2h ago

0mins

Source: seekingalpha

Significant Revenue Growth: Axsome Therapeutics reported preliminary net product revenue of approximately $196 million for Q4 2025, reflecting a robust 65% year-over-year increase, surpassing market expectations of $187 million, indicating strong market performance.
Full-Year Revenue Outlook: The company anticipates full-year 2025 net product revenue to reach around $638.5 million, representing a 66% year-over-year growth, exceeding the market estimate of $629.5 million, showcasing sustained demand and market acceptance of its products.
Sales Drivers: The revenue growth was primarily driven by strong sales of AUVELITY, SUNOSI, and SYMBRAVO, which have solidified Axsome's position in the mental health market and contributed to its overall financial success.
FDA Priority Review: Axsome has received FDA priority review for AUVELITY in the treatment of Alzheimer's disease agitation, a development that not only enhances the product's market potential but also opens up greater revenue growth opportunities for the company.

AXSM

$177.1625+Infinity%1D

Analyst Views on AXSM

Wall Street analysts forecast AXSM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AXSM is 175.25 USD with a low forecast of 148.00 USD and a high forecast of 202.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

15 Analyst Rating

15 Buy

0 Hold

0 Sell

Strong Buy

Current: 169.380

Low

148.00

Averages

175.25

High

202.00

Current: 169.380

Low

148.00

Averages

175.25

High

202.00

Morgan Stanley

Overweight -> Equal Weight

downgrade

$196 -> $204

2026-01-08

New

Reason

Morgan Stanley

Price Target

$196 -> $204

2026-01-08

New

downgrade

Overweight -> Equal Weight

Reason

Morgan Stanley downgraded Axsome Therapeutics to Equal Weight from Overweight with a price target of $204, up from $196. Axsome announced on December 31 that the FDA accepted the AXS-05 sNDA for Alzheimer's Disease Agitation with Priority Review, immediately driving a sharp stock reaction, notes the analyst, who increased the firm's view of the probability of success for AXS05 in ADA to 85% from 75%. However, the post-event run-up has meaningfully reduced near-term upside from current levels, says the analyst, who views 2026 as "relatively catalyst-light" outside of the April-end PDUFA date for AXS-05 in ADA.

UBS

NULL -> Buy

upgrade

$163 -> $248

2026-01-06

Reason

UBS

Price Target

$163 -> $248

2026-01-06

upgrade

NULL -> Buy

Reason

UBS raised the firm's price target on Axsome Therapeutics to $248 from $163 and keeps a Buy rating on the shares. The Biotech sector enters 2026 on a cautiously optimistic note, the analyst tells investors in a research note. While capital absorption from secondary offerings is a concern, over $47B of pending capital from potential M&A could offset this, though sustained outperformance will likely require M&A activity to continue outpacing secondaries and IPOs, the firm says.

Needham

Ami Fadia

Buy

maintain

$169 -> $225

2026-01-05

Reason

Needham

Ami Fadia

Price Target

$169 -> $225

2026-01-05

maintain

Buy

Reason

Needham analyst Ami Fadia raised the firm's price target on Axsome Therapeutics to $225 from $169 and keeps a Buy rating on the shares. The firm sees traction in 2026 for the company, based on potential approval and launch of Auvelity in Alzheimer's disease agitation and pipeline development. Needham also expects continued strong performance of Auvelity in major depressive disorder.

H.C. Wainwright

Buy

maintain

$185 -> $200

2026-01-05

Reason

H.C. Wainwright

Price Target

$185 -> $200

2026-01-05

maintain

Buy

Reason

H.C. Wainwright raised the firm's price target on Axsome Therapeutics to $200 from $185 and keeps a Buy rating on the shares after the AXS-05 regulatory application was accepted with priority review. The firm increased its market penetration assumptions for AXS-05 given the potential for regulatory approval and market entry during the first half of 2026.

About AXSM

Axsome Therapeutics, Inc. is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for people living with central nervous system (CNS) conditions. The Company's commercial products include Auvelity, Sunosi and Symbravo. It is also advancing a diversified, late-stage pipeline of product candidates for serious neurological and psychiatric conditions, which include AXS-05, AXS-12, AXS-14 and AXS-17. Auvelity (dextromethorphan-bupropion) is an oral, N-methyl-D-aspartate (NMDA) receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder (MDD). Sunosi (solriamfetol) is an oral medication indicated for the treatment of excessive daytime sleepiness (EDS), in patients with narcolepsy or obstructive sleep apnea. Symbravo (meloxicam and rizatriptan, 20 mg/10mg tablets) is an oral, single-dose medicine approved for the acute treatment of migraine with or without aura in adults.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.