Summary

• Axsome Therapeutics, Inc. is rated Hold, as revenue growth and pipeline promise are offset by sequential declines and ongoing losses.
• AXSM's Q1 revenues grew 57% year-on-year to $191m, but both Auvelity and Sunosi saw sequential sales declines.
• Management's peak revenue targets—over $18bn across the portfolio—appear highly ambitious given current product performance and competitive dynamics.
• I remain cautious, awaiting key catalysts like the solriamfetol binge eating disorder readout, as current fundamentals do not justify a Buy or Sell.
• Looking for a helping hand in the market? Members of Haggerston BioHealth get exclusive ideas and guidance to navigate any climate. Learn More »

Investment Overview

Axsome Therapeutics, Inc. (AXSM), the New York-headquartered, commercial-stage Pharmaceuticals company, reported its Q1 2026 earnings and business updates earlier today. Shares are up >10% in early trading today, trading at a value of $230, and the

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