Royal Bank of Canada Increases Axsome Therapeutics (NASDAQ:AXSM) Price Target to $130.00

Axsome Therapeutics (NASDAQ:AXSMGet Free Report) had its target price lifted by equities researchers at Royal Bank of Canada from $127.00 to $130.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 73.89% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. HC Wainwright restated a “buy” rating and issued a $190.00 target price on shares of Axsome Therapeutics in a report on Tuesday, May 7th. Citigroup lowered their price target on Axsome Therapeutics from $127.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Guggenheim lifted their price target on Axsome Therapeutics from $110.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. UBS Group started coverage on Axsome Therapeutics in a report on Tuesday, February 6th. They set a “buy” rating and a $111.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 price target on shares of Axsome Therapeutics in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.08.

Read Our Latest Stock Report on Axsome Therapeutics

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM opened at $74.76 on Wednesday. The company has a quick ratio of 3.09, a current ratio of 3.20 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of -11.72 and a beta of 1.25. The stock’s fifty day simple moving average is $73.72 and its 200 day simple moving average is $77.59. Axsome Therapeutics has a 52-week low of $55.02 and a 52-week high of $98.40.

Axsome Therapeutics (NASDAQ:AXSMGet Free Report) last issued its earnings results on Monday, May 6th. The company reported ($1.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.11. The business had revenue of $75.00 million for the quarter, compared to analysts’ expectations of $69.91 million. Axsome Therapeutics had a negative return on equity of 87.17% and a negative net margin of 118.07%. As a group, sell-side analysts forecast that Axsome Therapeutics will post -4.7 earnings per share for the current fiscal year.

Insider Activity at Axsome Therapeutics

In related news, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics 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 of the company’s stock, valued at $8,416,693.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics 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 of the company’s stock, valued at $8,416,693.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Mark L. Jacobson sold 7,910 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total value of $587,792.10. Following the completion of the sale, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at approximately $429,734.73. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,797 shares of company stock valued at $4,976,789. Insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Trexquant Investment LP acquired a new stake in shares of Axsome Therapeutics in the third quarter worth about $1,220,000. Kennedy Capital Management LLC lifted its position in shares of Axsome Therapeutics by 24.2% in the third quarter. Kennedy Capital Management LLC now owns 12,092 shares of the company’s stock worth $845,000 after buying an additional 2,354 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Axsome Therapeutics by 18.9% in the third quarter. Wellington Management Group LLP now owns 237,554 shares of the company’s stock worth $16,603,000 after buying an additional 37,843 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Axsome Therapeutics by 403.8% in the third quarter. Victory Capital Management Inc. now owns 18,934 shares of the company’s stock worth $1,323,000 after buying an additional 15,176 shares during the last quarter. Finally, Phocas Financial Corp. acquired a new stake in shares of Axsome Therapeutics in the fourth quarter worth about $2,140,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

(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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Analyst Recommendations for Axsome Therapeutics (NASDAQ:AXSM)

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