Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $112.00 at Robert W. Baird

Axsome Therapeutics (NASDAQ:AXSM) had its price objective hoisted by Robert W. Baird from $108.00 to $112.00 in a report released on Tuesday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research firms have also recently weighed in on AXSM. Royal Bank of Canada increased their price objective on shares of Axsome Therapeutics from $123.00 to $128.00 and gave the stock an outperform rating in a research report on Tuesday, March 26th. Guggenheim lifted their price objective on Axsome Therapeutics from $110.00 to $125.00 and gave the stock a buy rating in a research report on Wednesday, February 21st. Truist Financial restated a buy rating and set a $150.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, March 26th. HC Wainwright reiterated a buy rating and issued a $190.00 target price on shares of Axsome Therapeutics in a report on Tuesday, April 2nd. Finally, Piper Sandler increased their price target on Axsome Therapeutics from $90.00 to $113.00 and gave the stock an overweight rating in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $122.17.

Axsome Therapeutics Stock Up 1.3 %

Shares of AXSM opened at $76.94 on Tuesday. The company has a market capitalization of $3.65 billion, a PE ratio of -14.80 and a beta of 1.13. The stock’s 50-day moving average price is $74.14 and its two-hundred day moving average price is $75.73. The company has a current ratio of 3.63, a quick ratio of 3.52 and a debt-to-equity ratio of 0.93. Axsome Therapeutics has a 12 month low of $55.02 and a 12 month high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.48. The company had revenue of $71.53 million for 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 anticipate that Axsome Therapeutics will post -3.75 EPS for the current year.

Insider Activity

In related news, COO Mark L. Jacobson sold 24,662 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Roger Jeffs sold 29,976 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 120,756 shares in the company, valued at $8,416,693.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Mark L. Jacobson sold 24,662 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The disclosure for this sale can be found here. Corporate insiders own 24.50% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Several institutional investors have recently made changes to their positions in AXSM. Sei Investments Co. boosted its holdings in Axsome Therapeutics by 8.2% during the first quarter. Sei Investments Co. now owns 35,654 shares of the company’s stock worth $2,845,000 after purchasing an additional 2,697 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Axsome Therapeutics by 605.5% during the 1st quarter. SG Americas Securities LLC now owns 15,104 shares of the company’s stock worth $1,205,000 after buying an additional 12,963 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Axsome Therapeutics by 20.4% in the 1st quarter. Mutual of America Capital Management LLC now owns 41,620 shares of the company’s stock worth $3,321,000 after buying an additional 7,042 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Axsome Therapeutics by 9.5% in the first quarter. Janney Montgomery Scott LLC now owns 5,780 shares of the company’s stock valued at $461,000 after acquiring an additional 500 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Axsome Therapeutics by 323.8% during the first quarter. BNP Paribas Financial Markets now owns 82,544 shares of the company’s stock valued at $6,587,000 after acquiring an additional 63,067 shares during 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.