Axsome Therapeutics: Needham Raises PT to $150 from $150, Reiterates Buy Rating

Axsome Therapeutics: Needham Raises PT to $150 from $150, Reiterates Buy Rating

Axsome Therapeutics, Inc. (NASDAQ: AXSM) has seen a significant increase in its price target by investment firm Needham, which has raised its estimate to $150 from $150, while maintaining a "buy" rating on the stock. This move comes on the heels of Axsome's strong second-quarter (Q2) 2025 financial performance, which showed robust growth across its product portfolio.

In Q2 2025, Axsome reported a total net product revenue of $150.0 million, representing a year-over-year (YoY) growth of 72% and a sequential growth of 24%. The company's AUVELITY sales grew 84% YoY to $119.6 million, driven by expanded market access with 28 million new covered lives [3]. SUNOSI sales increased 35% YoY to $30.0 million, supported by strong prescription growth. SYMBRAVO, launched in June, contributed $0.4 million to Q2 revenue.

The company's net loss narrowed to $48.0 million from $79.3 million in the prior year. Axsome expects to submit new drug applications to the FDA for AXS-05 in Alzheimer's disease agitation in the third quarter of 2025 and for AXS-12 in narcolepsy in the fourth quarter of 2025. The company is also planning to initiate Phase 3 trials for solriamfetol in ADHD and MDD in the fourth quarter of 2025.

Needham's analyst rating reflects the company's strong financial performance and promising pipeline. The current average analyst rating on the shares is "buy," with a breakdown of recommendations including 19 "strong buy" or "buy," no "hold," and no "sell" or "strong sell" recommendations [1]. Wall Street's median 12-month price target for Axsome Therapeutics Inc. is $181.50, about 43.2% above its August 1 closing price of $103.02 [1].

Axsome's Q2 2025 results highlight the company's ability to execute on its commercial strategy and drive growth in its product portfolio. The company's strong financial performance and promising pipeline position it well for future growth and success.

References:
[1] https://www.tradingview.com/news/reuters.com,2025:newsml_PLXE2BD4A:0-axsome-therapeutics-s-q2-revenue-rises-72-to-150-mln/
[2] https://www.marketbeat.com/stocks/NASDAQ/COGT/news/
[3] https://www.nasdaq.com/press-release/axsome-therapeutics-reports-second-quarter-2025-financial-results-and-provides