Axsome jumps on FDA approval of Auvelity for Alzheimer’s-related agitation

Axsome Therapeutics (AXSM) is up 12.9% today. Here is some analysis on what might have caused this price movement.

Analysis: AXSM shares appear to be rising after a key U.S. regulatory catalyst: the FDA approved an expanded indication for Auvelity to treat agitation associated with dementia due to Alzheimer’s disease. The decision removes a major near-term uncertainty and could expand the drug’s commercial opportunity.

Details:

The FDA approved an expanded use for Auvelity (dextromethorphan-bupropion) for agitation associated with dementia due to Alzheimer’s disease in adults, with the approval granted to Axsome Therapeutics.

The decision landed on the previously disclosed PDUFA target action date of April 30, 2026, which had been a closely watched catalyst for the stock.

Axsome stated the approval adds a second neuropsychiatric indication for Auvelity and follows the prior FDA Priority Review for this supplemental application.

This could also be amplifying a “risk-on” reaction from traders who were positioned cautiously into the binary FDA event.

Sources:

FDA, GlobeNewswire, NeurologyLive

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$AXSM Insider Trading Activity

$AXSM insiders have traded $AXSM stock on the open market 17 times in the past 6 months. Of those trades, 0 have been purchases and 17 have been sales.

Here’s a breakdown of recent trading of $AXSM stock by insiders over the last 6 months:

HERRIOT TABUTEAU (Chief Executive Officer) has made 0 purchases and 10 sales selling 415,736 shares for an estimated $63,361,164.
MARK E SAAD has made 0 purchases and 2 sales selling 37,577 shares for an estimated $6,206,968.
MARK L. JACOBSON (Chief Operating Officer) sold 35,378 shares for an estimated $5,726,990
MARK COLEMAN sold 25,000 shares for an estimated $4,027,750
ARI MAIZEL (Chief Commercial Officer) has made 0 purchases and 2 sales selling 15,000 shares for an estimated $2,751,450.
NICK PIZZIE (Chief Financial Officer) sold 12,000 shares for an estimated $2,255,040

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API.

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$AXSM Hedge Fund Activity

We have seen 206 institutional investors add shares of $AXSM stock to their portfolio, and 164 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

MACQUARIE GROUP LTD removed 1,084,536 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $198,079,655
FAIRMOUNT FUNDS MANAGEMENT LLC removed 815,176 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $148,883,744
RTW INVESTMENTS, LP removed 628,902 shares (-41.5%) from their portfolio in Q4 2025, for an estimated $114,862,661
PRICE T ROWE ASSOCIATES INC /MD/ added 472,422 shares (+45.5%) to their portfolio in Q4 2025, for an estimated $86,283,154
BVF INC/IL removed 441,000 shares (-90.6%) from their portfolio in Q4 2025, for an estimated $80,544,240
ROCKEFELLER CAPITAL MANAGEMENT L.P. added 412,404 shares (+7188.5%) to their portfolio in Q4 2025, for an estimated $75,321,466
ASSENAGON ASSET MANAGEMENT S.A. added 397,976 shares (+85.0%) to their portfolio in Q1 2026, for an estimated $67,265,903

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API.

$AXSM Analyst Ratings

Wall Street analysts have issued reports on $AXSM in the last several months. We have seen 7 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Leerink Partners issued a "Outperform" rating on 01/28/2026
HC Wainwright & Co. issued a "Buy" rating on 01/20/2026
UBS issued a "Buy" rating on 01/06/2026
Needham issued a "Buy" rating on 12/31/2025
Mizuho issued a "Outperform" rating on 11/06/2025
Morgan Stanley issued a "Overweight" rating on 11/04/2025
RBC Capital issued a "Outperform" rating on 11/04/2025

To track analyst ratings and price targets for $AXSM, check out Quiver Quantitative's $AXSM forecast page.

$AXSM Price Targets

Multiple analysts have issued price targets for $AXSM recently. We have seen 12 analysts offer price targets for $AXSM in the last 6 months, with a median target of $224.0.

Here are some recent targets:

Ashwani Verma from UBS set a target price of $259.0 on 04/10/2026
Yatin Suneja from Guggenheim set a target price of $245.0 on 03/25/2026
Rudy Li from Wolfe Research set a target price of $230.0 on 02/24/2026
Leonid Timashev from RBC Capital set a target price of $222.0 on 02/24/2026
Benjamin Burnett from Wells Fargo set a target price of $202.0 on 02/24/2026
Ami Fadia from Needham set a target price of $225.0 on 02/23/2026
Andrew Tsai from Jefferies set a target price of $245.0 on 02/03/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.