Axsome Therapeutics price target raised to $260 on strong revenue growth and new FDA approvals

Guggenheim raised the price target for Axsome Therapeutics to $260, indicating a 14.38% potential upside due to strong financial results and pipeline progress. The company reported $191.20 million in net product revenue, a 57% increase year-over-year, driven by sales of AUVELITY® and SUNOSI®. Despite a quarterly loss of $1.26 per share, Axsome's recent FDA approval for AUVELITY® in Alzheimer's agitation and NDA submission for AXS-12 highlight promising growth in CNS disorder treatments. These developments support Axsome's expanding market presence and future growth potential.