Axsome Therapeutics, Inc. (AXSM) Stock

Axsome Therapeutics, Inc. (AXSM) is a Healthcare stock trading at $207.66 (as of 2026-08-21), with a market capitalization of $10.88B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Axsome Therapeutics, Inc. is a biopharmaceutical company focused on developing therapies for central nervous system disorders in the United States. Its pipeline includes product candidates in clinical-stage development for conditions such as major depressive disorder, Alzheimer’s disease agitation, migraine, narcolepsy, and fibromyalgia.

Understand Axsome Therapeutics, Inc.: how it makes money

Axsome Therapeutics develops therapies for central nervous system (CNS) disorders and sells marketed treatments in the United States, with revenue driven by net product sales of its branded drugs.

The profit engine is commercial net product revenue concentrated in its marketed CNS brands (notably AUVELITY and Synosy), while pipeline assets (such as AXS-05 and AXS-07) are in clinical stages and are not shown as contributing revenue in the provided facts.

Revenue by segment (latest quarter)
AUVELITY$0.1B
Synosy$0.0B

Business quality (Weak): AXSM is in a development stage for much of its pipeline, and the provided latest-quarter picture shows revenue from a small set of marketed products alongside a negative operating margin.

Bull case

  • Commercial revenue is concentrated in AUVELITY and Synosy: This gives the company an immediate source of net product revenue, rather than relying only on future approvals.
  • Pipeline advancement for CNS disorders: AXS-05 is in Phase III for Alzheimer’s disease agitation, and Axsome has completed Phase II for smoking cessation.

Bear case

  • Loss-making operations in the latest quarter: Operating margin is -33.1% for the period ending 2026-03-31, which signals heavy operating cost relative to the provided revenue.
  • Potential dependence on a narrow set of marketed products: The provided revenue breakdown is dominated by AUVELITY and Synosy, so performance changes in these products can have an outsized impact.
  • Clinical and regulatory execution risk for pipeline assets: Key pipeline programs are at Phase II or Phase III, and outcomes are uncertain until trials complete and results support regulatory decisions.
Valuation — source: SEC EDGAR (first-party)
Price$207.66
Market Cap$10.88B
Price / Book130.58
Price / Sales14.09
FCF Yield-1.6%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$638.50M
Net Margin-28.7%
Revenue Growth (YoY)65.5%
EPS Growth (YoY)-38.6%
FCF Growth (YoY)-27.0%
Financial Health — source: SEC EDGAR
Altman Z-Score8.44 (safe)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.7
Industry P/E (Pharmaceutical Products)17.2
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($760.66M)
Institutional Holders Tracked10
Congressional Trades (recent)1
Company
SectorHealthcare
IndustryPharmaceutical Products
CEOHerriot Tabuteau
Employees712
CountryUS
IPO Date2015-11-19

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AXSM earnings history · AXSM institutional & insider holders · AXSM KPIs & operating metrics · AXSM financials · AXSM investor presentations & press releases · AXSM SEC filings · AXSM peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.