Axsome Therapeutics (NASDAQ:AXSM) PT Raised to $128.00

Axsome Therapeutics (NASDAQ:AXSMGet Free Report) had its price objective raised by analysts at Royal Bank of Canada from $123.00 to $128.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 65.48% from the stock’s previous close.

AXSM has been the topic of several other reports. Robert W. Baird began coverage on Axsome Therapeutics in a research report on Tuesday, March 19th. They set an “outperform” rating and a $108.00 price target on the stock. Guggenheim increased their price target on Axsome Therapeutics from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Piper Sandler increased their price target on Axsome Therapeutics from $90.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Cantor Fitzgerald reiterated an “overweight” rating and set a $108.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, February 20th. Finally, UBS Group initiated coverage on shares of Axsome Therapeutics in a research note on Tuesday, February 6th. They issued a “buy” rating and a $111.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $116.91.

Read Our Latest Report on AXSM

Axsome Therapeutics Stock Down 4.1 %

Axsome Therapeutics stock opened at $77.35 on Tuesday. Axsome Therapeutics has a twelve month low of $55.02 and a twelve month high of $98.40. The business has a fifty day moving average of $84.39 and a two-hundred day moving average of $75.29. The company has a quick ratio of 3.52, a current ratio of 3.63 and a debt-to-equity ratio of 0.93. The firm has a market cap of $3.66 billion, a P/E ratio of -14.88 and a beta of 1.17.

Axsome Therapeutics (NASDAQ:AXSMGet Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($1.21) by $0.48. The firm had revenue of $71.53 million during the quarter, compared to analyst estimates of $70.38 million. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. On average, analysts forecast that Axsome Therapeutics will post -3.71 earnings per share for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other news, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the sale, the director now owns 120,756 shares of the company’s stock, valued at $8,416,693.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 24.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of AXSM. Washington Trust Advisors Inc. acquired a new stake in shares of Axsome Therapeutics during the 4th quarter valued at about $26,000. Harbour Investments Inc. raised its position in shares of Axsome Therapeutics by 461.5% in the second quarter. Harbour Investments Inc. now owns 365 shares of the company’s stock valued at $26,000 after purchasing an additional 300 shares during the period. Fifth Third Bancorp lifted its position in Axsome Therapeutics by 100.0% during the 3rd quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of Axsome Therapeutics by 582.0% during the 1st quarter. Captrust Financial Advisors now owns 757 shares of the company’s stock worth $31,000 after purchasing an additional 646 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Axsome Therapeutics by 141.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 815 shares of the company’s stock worth $50,000 after buying an additional 477 shares during the period. Institutional investors and hedge funds own 81.49% of the company’s stock.

About Axsome Therapeutics

(Get Free Report)

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.

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