Guggenheim Lifts Axsome Therapeutics Price Target to $260 After 57% Q1 Revenue Surge
AXSM•Guggenheim raised Axsome Therapeutics’ price target to $260, implying 14.4% upside after the company reported Q1 net product revenue of $191.2 million, up 57% year-over-year. The FDA approved Auvelity for Alzheimer’s agitation and Axsome submitted an NDA for AXS-12, expanding its CNS pipeline.
1. Analyst Price Target Increase
Guggenheim increased its price target for Axsome Therapeutics to $260, reflecting confidence in the company’s commercial execution and growing central nervous system disorder pipeline, and indicating a potential 14.38% stock upside.
2. Q1 Revenue Growth
Axsome reported Q1 net product revenue of $191.2 million, a 57% year-over-year rise driven by Auvelity sales of $153.2 million and Sunosi sales of $33.9 million, marking its fourth consecutive quarter of revenue outperformance.
3. FDA Approval and NDA Submission
The FDA granted approval for Auvelity in treating agitation linked to Alzheimer’s disease, while Axsome filed a New Drug Application for AXS-12 in narcolepsy, positioning the company for broader CNS market penetration.
4. Profitability and Financial Outlook
Despite strong top-line growth, Axsome posted a GAAP loss of $1.26 per share versus an expected $0.85 loss, and held $305 million in cash to fund ongoing trials and planned commercial launches.
