Citigroup Lowers Axsome Therapeutics (NASDAQ:AXSM) Price Target to $125.00

Axsome Therapeutics (NASDAQ:AXSM) had its price objective reduced by Citigroup from $127.00 to $125.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 65.17% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Cantor Fitzgerald reissued an “overweight” rating and set a $107.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, April 10th. Royal Bank of Canada lifted their price objective on Axsome Therapeutics from $123.00 to $128.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Robert W. Baird lifted their price objective on Axsome Therapeutics from $108.00 to $112.00 and gave the company an “outperform” rating in a report on Tuesday. Truist Financial reaffirmed a “buy” rating and issued a $150.00 price target on shares of Axsome Therapeutics in a report on Tuesday, March 26th. Finally, Morgan Stanley raised Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $90.00 to $115.00 in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $121.92.

Axsome Therapeutics Stock Down 1.6 %

AXSM opened at $75.68 on Tuesday. The company has a market capitalization of $3.59 billion, a P/E ratio of -14.55 and a beta of 1.13. The firm’s fifty day moving average price is $73.99 and its two-hundred day moving average price is $75.73. Axsome Therapeutics has a fifty-two week low of $55.02 and a fifty-two week high of $98.40. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.63 and a quick ratio of 3.52.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.48. The company had revenue of $71.53 million during the quarter, compared to analysts’ expectations 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 Buying and Selling

In related news, COO Mark L. Jacobson sold 24,662 shares of Axsome Therapeutics stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $77.24, for a total value of $1,904,892.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Mark L. Jacobson sold 24,662 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $77.24, for a total transaction of $1,904,892.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roger Jeffs sold 29,976 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $69.70, for a total value of $2,089,327.20. Following the transaction, the director now owns 120,756 shares of the company’s stock, valued at $8,416,693.20. The disclosure for this sale can be found here. Corporate insiders own 24.50% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Several institutional investors have recently modified their holdings of the stock. RTW Investments LP grew its position in shares of Axsome Therapeutics by 4.8% during the 3rd quarter. RTW Investments LP now owns 4,489,596 shares of the company’s stock worth $313,778,000 after buying an additional 205,319 shares during the period. Perceptive Advisors LLC grew its position in shares of Axsome Therapeutics by 115.5% during the 4th quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock worth $82,616,000 after buying an additional 556,370 shares during the period. Point72 Asset Management L.P. grew its position in shares of Axsome Therapeutics by 57.4% during the 4th quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock worth $66,633,000 after buying an additional 305,264 shares during the period. Bellevue Group AG grew its position in shares of Axsome Therapeutics by 0.6% during the 4th quarter. Bellevue Group AG now owns 635,372 shares of the company’s stock worth $50,569,000 after buying an additional 3,885 shares during the period. Finally, Avidity Partners Management LP grew its position in shares of Axsome Therapeutics by 54.8% in the 4th quarter. Avidity Partners Management LP now owns 459,400 shares of the company’s stock valued at $36,564,000 after purchasing an additional 162,600 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

About Axsome Therapeutics

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.