Axsome Therapeutics (NASDAQ:AXSM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Axsome Therapeutics (NASDAQ:AXSM) had its price objective upped by Wells Fargo & Company from $140.00 to $160.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 21.03% from the stock’s previous close.

AXSM has been the topic of several other research reports. William Blair restated an “outperform” rating on shares of Axsome Therapeutics in a research note on Friday, January 24th. Bank of America increased their price objective on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday. Truist Financial raised their price objective on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, HC Wainwright reissued a “buy” rating and issued a $190.00 price objective on shares of Axsome Therapeutics in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and sixteen have issued 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 price target of $147.13.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock opened at $132.20 on Wednesday. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of -20.25 and a beta of 1.05. The firm’s 50-day moving average is $95.28 and its 200 day moving average is $92.07. Axsome Therapeutics has a 1 year low of $64.11 and a 1 year high of $134.19. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37.

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, topping analysts’ consensus estimates of ($1.38) by $0.04. The company had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter in the previous year, the business posted ($1.32) EPS. Sell-side analysts anticipate that Axsome Therapeutics will post -4.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC raised its position in shares of Axsome Therapeutics by 47.9% during the fourth quarter. LPL Financial LLC now owns 24,209 shares of the company’s stock valued at $2,048,000 after buying an additional 7,837 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $518,000. KLP Kapitalforvaltning AS bought a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $745,000. American Century Companies Inc. bought a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $570,000. Finally, Teacher Retirement System of Texas raised its position in shares of Axsome Therapeutics by 19.4% during the fourth quarter. Teacher Retirement System of Texas now owns 9,241 shares of the company’s stock valued at $782,000 after buying an additional 1,499 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.