TD Cowen Reiterates Buy Rating on Axsome Therapeutics, Inc.

TD Cowen has reaffirmed its buy rating on Axsome Therapeutics, Inc. (NasdaqGM: AXSM) with a price target of $300. This update on June 17, 2026, comes as part of the firm's consistent outlook on the biotechnology company's prospects.

Analysts Set New Price Targets

On June 17, 2026, TD Cowen's analyst Joseph Thome maintained a buy rating on Axsome Therapeutics with a price target of $300. Other analysts have also shown optimism; for instance, RBC Capital and Wells Fargo both maintained buy ratings with targets of $302 and $255, respectively, in May 2026. The consensus among analysts is strong buy, with an average target price of approximately $275.28 based on 21 analyst opinions.

Axsome Therapeutics, Inc. Stock Down 0.7%

Shares of Axsome Therapeutics traded at around $251.91, close to their 52-week high of $257.93. The company has a market capitalization of $12.96 billion and a forward P/E ratio of 42.79, indicating expectations of future profitability. The stock's beta of 0.598 suggests lower volatility compared to the broader market. Axsome's current ratio stands at 1.39, with a quick ratio of 1.27, though its debt-to-equity ratio is high at 402.84, reflecting substantial leverage.

Insider Buying and Selling at Axsome Therapeutics, Inc.

Recent insider transactions at Axsome include planned sales by Roger Jeffs, who sold 286 shares on June 11, 2026, at an average price of $249.12, and Susan Mahony, who sold 300 shares on June 10, 2026, at $246.18. Mark Coleman also sold 643 shares on the same day at $249. These transactions were part of pre-arranged trading plans.

Other Institutional Activity in Axsome Therapeutics

Among institutional investors, BlackRock, Inc. slightly reduced its position by 699 shares, holding about 3.91 million shares valued at approximately $661.35 million. Vanguard Portfolio Management LLC established a new position with 2.06 million shares worth $347.87 million. FMR LLC increased its stake by 385,373 shares to hold 1.57 million shares valued at $264.85 million.

Recent Earnings

For its latest quarter, Axsome reported revenue of $708.24 million, reflecting a growth of 57.4%. Despite this, the company posted a net margin of -26.6%, with a return on equity of -3.49%, indicating ongoing financial challenges. The next earnings report is expected on August 3, 2026.

About Axsome Therapeutics, Inc.

Axsome Therapeutics, Inc. is a biopharmaceutical company based in New York, specializing in developing treatments for central nervous system disorders. Its product lineup includes Auvelity for major depressive disorder, Sunosi for excessive daytime sleepiness, and AXS-07 for migraines. The company is also advancing several other candidates through clinical trials, targeting conditions like Alzheimer's disease agitation and fibromyalgia.

Bottom Line

TD Cowen's reaffirmation of its buy rating on Axsome Therapeutics highlights the firm's confidence in the company's future. While Axsome's financials show room for improvement, the stock remains a focus for analysts and investors, particularly in the context of its innovative treatments for CNS disorders. As always, it's important for investors to note that these ratings reflect past data and may not indicate future performance.