Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $116.00

Axsome Therapeutics (NASDAQ:AXSM) had its target price lifted by Robert W. Baird from $112.00 to $116.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

AXSM has been the topic of several other research reports. UBS Group reduced their target price on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. HC Wainwright reiterated a “buy” rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a report on Thursday, September 5th. Royal Bank of Canada increased their target price on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price target on shares of Axsome Therapeutics in a research note on Tuesday. Finally, Wells Fargo & Company assumed coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price objective for the company. One research analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $124.93.

Axsome Therapeutics Trading Down 4.3 %

Shares of AXSM stock opened at $93.17 on Wednesday. Axsome Therapeutics has a 52-week low of $56.66 and a 52-week high of $105.00. The business’s fifty day moving average is $90.66 and its 200 day moving average is $84.27. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.40 and a current ratio of 2.44. The company has a market capitalization of $4.52 billion, a PE ratio of -14.27 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. The business had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter in the previous year, the company earned ($1.32) EPS. On average, equities research analysts anticipate that Axsome Therapeutics will post -5.04 EPS for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value of $1,005,870.96. Following the transaction, the director now owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. This represents a 52.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. purchased a new stake in Axsome Therapeutics in the second quarter worth about $27,000. EntryPoint Capital LLC bought a new stake in Axsome Therapeutics during the 1st quarter worth approximately $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Axsome Therapeutics during the second quarter valued at approximately $47,000. Russell Investments Group Ltd. boosted its position in shares of Axsome Therapeutics by 5,550.0% in the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after purchasing an additional 777 shares during the period. Finally, Covestor Ltd increased its stake in shares of Axsome Therapeutics by 54,750.0% in the first quarter. Covestor Ltd now owns 1,097 shares of the company’s stock worth $88,000 after purchasing an additional 1,095 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.