Leerink Partners Boosts Axsome Therapeutics (NASDAQ:AXSM) Price Target to $150.00

Axsome Therapeutics (NASDAQ:AXSM) had its price objective boosted by analysts at Leerink Partners from $110.00 to $150.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Leerink Partners’ price target indicates a potential upside of 13.46% from the stock’s previous close.

Several other analysts have also recently weighed in on the company. HC Wainwright lifted their price objective on Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Mizuho boosted their price target on Axsome Therapeutics from $122.00 to $137.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $139.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, January 29th. Truist Financial boosted their price target on Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $133.00 price target on shares of Axsome Therapeutics in a research report on Monday. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and an average target price of $145.80.

Axsome Therapeutics Stock Up 4.0 %

AXSM opened at $132.20 on Monday. The company has a market cap of $6.41 billion, a P/E ratio of -20.25 and a beta of 1.05. The business’s 50-day moving average price is $95.28 and its 200-day moving average price is $92.07. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $134.19.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The company had revenue of $104.76 million for the quarter, compared to the consensus estimate of $98.71 million. During the same quarter in the previous year, the business earned ($1.32) EPS. On average, equities analysts expect that Axsome Therapeutics will post -4.7 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in shares of Axsome Therapeutics by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock valued at $19,062,000 after purchasing an additional 27,534 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Axsome Therapeutics during the 4th quarter valued at about $2,599,000. PDT Partners LLC bought a new position in shares of Axsome Therapeutics during the 3rd quarter valued at about $1,052,000. Pallas Capital Advisors LLC bought a new position in shares of Axsome Therapeutics during the 4th quarter valued at about $2,237,000. Finally, Captrust Financial Advisors bought a new position in shares of Axsome Therapeutics during the 3rd quarter valued at about $514,000. Institutional investors own 81.49% of the company’s stock.

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.