TD Cowen analyst Joseph Thome has maintained a Buy rating on Axsome Therapeutics and increased the price target to $300 from $275. The adjustment reflects a revised outlook on the company's stock performance.

Rating and Price Target Details

The firm's updated stance highlights confidence in Axsome Therapeutics' growth trajectory. The new price target of $300 represents an increase over the previous target of $275.

Axsome Therapeutics, Inc. presented new data highlighting its sleep medicine portfolio at SLEEP 2026, the 40th annual meeting of the Associated Professional Sleep Societies (APSS). The conference took place in Baltimore, Maryland, from June 14-17, 2026. The presentations focused on AXS-12 and solriamfetol, addressing cognitive outcomes and symptom burden in patients with narcolepsy and obstructive sleep apnea (OSA).

The first presentation, titled "Cognitive and Functional Outcomes from the Phase 3 Open-Label Extension and Randomized-Withdrawal ENCORE Trial of AXS-12 in Narcolepsy with Cataplexy," was led by Bruce Corser MD, FAASM, Medical Director of Intrepid Research, Cincinnati, OH. The poster session, P-16, was held on Monday, June 15, from 10:00 to 11:45 a.m. ET, with poster number 375.

A second presentation, "Solriamfetol for Excessive Daytime Sleepiness in Narcolepsy and OSA: Post-hoc Multi-dimensional Composite Endpoint Analysis of Phase 3 Trials," was led by Ellen Wertmer, FNP-BC, DBSM, FAASM, Founder of Restorative Sleep Medicine, Charlottesville, VA. This poster, number 386, was also part of session P-16 on Monday, June 15, during the same time slot.

The third presentation, "Symptom Burden and Quality of Life in Patients with Narcolepsy Who Experience Residual Cataplexy: Subgroup Analysis from the CRESCENDO Survey," was led by Michael Thorpy, MD, Director of the Sleep-Wake Disorders Center at the Montefiore Medical Center and Professor of Neurology at Albert Einstein College of Medicine, New York, NY. This poster, number 316, was presented on Tuesday, June 16, from 10:00 to 11:45 a.m. ET, in session P-34.

Presentation Details

Axsome Therapeutics is a biopharmaceutical company focused on central nervous system (CNS) disorders. Its portfolio includes FDA-approved treatments for major depressive disorder, agitation associated with dementia due to Alzheimer's disease, excessive daytime sleepiness associated with narcolepsy and OSA, and migraine. The company continues to develop novel product candidates for neurological and psychiatric conditions.