Axsome Therapeutics (NASDAQ:AXSM) Given New $200.00 Price Target at HC Wainwright

Axsome Therapeutics (NASDAQ:AXSM) had its target price increased by analysts at HC Wainwright from $190.00 to $200.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 57.53% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a report on Tuesday. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $153.00 target price on shares of Axsome Therapeutics in a research report on Wednesday. Leerink Partners raised their price target on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Finally, Royal Bank of Canada boosted their price objective on Axsome Therapeutics from $143.00 to $192.00 and gave the stock an “outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $155.47.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $126.96 on Thursday. The firm has a market capitalization of $6.15 billion, a P/E ratio of -19.44 and a beta of 1.05. The firm’s 50-day moving average price is $99.64 and its 200-day moving average price is $94.22. 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 1-year low of $64.11 and a 1-year high of $134.18.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. The business had revenue of $118.77 million for the quarter, compared to the consensus estimate of $117.83 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. Equities research analysts anticipate that Axsome Therapeutics will post -4.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

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

Institutional Investors Weigh In On Axsome Therapeutics

A number of hedge funds have recently modified their holdings of AXSM. Pitcairn Co. grew its holdings in Axsome Therapeutics by 3.4% during the fourth quarter. Pitcairn Co. now owns 4,562 shares of the company’s stock valued at $386,000 after purchasing an additional 148 shares during the period. Meridian Wealth Management LLC lifted its position in shares of Axsome Therapeutics by 0.7% during the 4th quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company’s stock valued at $1,791,000 after buying an additional 150 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in Axsome Therapeutics by 4.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company’s stock worth $326,000 after purchasing an additional 162 shares during the period. Arizona State Retirement System increased its stake in shares of Axsome Therapeutics by 1.8% in the fourth quarter. Arizona State Retirement System now owns 9,054 shares of the company’s stock worth $766,000 after purchasing an additional 164 shares in the last quarter. Finally, Intrust Bank NA raised its position in shares of Axsome Therapeutics by 6.9% in the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company’s stock valued at $239,000 after purchasing an additional 183 shares during the period. 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.