Axsome Therapeutics, Inc. (AXSM) AI Stock Analysis

Axsome Therapeutics, Inc. is a New York-based biopharmaceutical company that develops and commercializes therapies for central nervous system disorders. Its commercial portfolio includes Auvelity for major depressive disorder and Sunosi for excessive daytime sleepiness related to narcolepsy or obstructive sleep apnea. Axsome's development pipeline includes AXS-05, in Phase III trials for Alzheimer's disease agitation and having completed Phase II for smoking cessation. The company is also evaluating AXS-07 for acute migraine headaches, AXS-12 for narcolepsy, AXS-14 for fibromyalgia, and solriamfetol for attention-deficit/hyperactivity disorder.

Revenue expanded from $8.8M in FY2021 to $638.5M in FY2025, driven by annual growth rates of 467.3% in FY2022, 440.8% in FY2023, 42.5% in FY2024, and 65.5% in FY2025. Gross margin improved from -13.1% in FY2021 to 92.6% in FY2025. Operating margin rose from -1413.9% in FY2021 to -26.5% in FY2025 as commercial scale expanded. Net losses were -$183.2M in FY2025 with an EPS of -$3.69, compared to a net loss of -$287.2M in FY2024. For the latest quarter ended June 30, 2026, quarterly revenue growth was 45.5% year-over-year, while trailing twelve-month revenue reached $776.6M with an operating margin of -23.4%.

As of June 30, 2026, Axsome held $319.9M in cash and short-term investments against $219.2M in total debt, resulting in net cash of $100.6M. Shareholders' equity stood at $83.3M, yielding a debt-to-equity ratio of 2.63 and a current ratio of 1.43. Total assets were $761.4M. In FY2025, the company used -$93.4M in operating cash flow and recorded capital expenditures of $480,000, leading to free cash flow of -$93.9M. The five-year share count change shows dilution of 36.4%.

At a last close of $157.14, Axsome had a market capitalization of $8.23B and an enterprise value of $10.04B. The stock trades at a price-to-sales multiple of 10.6x and a forward P/E of 32.2x, compared to medians of 4.1x and 17.3x, respectively, for US-listed Healthcare peers. Its enterprise value to revenue is 12.9x, and price-to-book stands at 121.6x. Over the past year, the stock returned 25.7%, outperforming the S&P 500 (SPY) return of 16.8%, and delivered a 5-year return of 291.9% versus 83.0% for the index.

Consensus ratings include 18 Strong Buy, 3 Buy, and 1 Hold recommendations, with zero Sell or Strong Sell ratings. The mean price target is $282.54, implying 79.8% upside versus the last close of $157.14. For the fiscal year ending December 31, 2026, analysts estimate revenue of $952.6M and EPS of -$2.98. For FY2027, 12 analysts project revenue of $1.52B and positive EPS of $4.04. Over the last four quarters, the company delivered 1 EPS beat. The next earnings date is November 2, 2026.

This page is an AI-written research summary of Axsome Therapeutics, Inc. (AXSM). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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