Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $193.00

Axsome Therapeutics (NASDAQ:AXSM) had its price target boosted by Royal Bank of Canada from $190.00 to $193.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

AXSM has been the topic of a number of other reports. Bank of America boosted their price objective on Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Wells Fargo & Company increased their price objective on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Truist Financial upped their target price on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. HC Wainwright restated a “buy” rating and set a $200.00 price target on shares of Axsome Therapeutics in a research note on Thursday, April 3rd. Finally, William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.87.

Axsome Therapeutics Price Performance

NASDAQ:AXSM opened at $112.24 on Tuesday. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. Axsome Therapeutics has a one year low of $64.11 and a one year high of $139.13. The company has a fifty day moving average price of $113.88 and a 200 day moving average price of $103.67. The stock has a market cap of $5.47 billion, a P/E ratio of -18.74 and a beta of 0.88.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, beating the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The business had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $117.83 million. Analysts anticipate that Axsome Therapeutics will post -2.79 earnings per share for the current year.

Insider Buying and Selling at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in 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 period. Strategic Financial Concepts LLC bought a new stake in shares of Axsome Therapeutics during the fourth quarter worth approximately $2,599,000. Intech Investment Management LLC lifted its holdings in Axsome Therapeutics by 46.5% in the fourth quarter. Intech Investment Management LLC now owns 16,028 shares of the company’s stock valued at $1,356,000 after buying an additional 5,087 shares during the period. Raymond James Financial Inc. bought a new position in Axsome Therapeutics in the fourth quarter valued at approximately $14,771,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Axsome Therapeutics by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company’s stock worth $27,755,000 after acquiring an additional 5,438 shares during the period. 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.