Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $192.00

Axsome Therapeutics (NASDAQ:AXSM) had its target price raised by Royal Bank of Canada from $143.00 to $192.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

AXSM has been the subject of a number of other research reports. Truist Financial increased their price objective on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Bank of America increased their price objective on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Mizuho increased their price objective on shares of Axsome Therapeutics from $137.00 to $195.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $121.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Finally, Needham & Company LLC increased their price objective on shares of Axsome Therapeutics from $133.00 to $153.00 and gave the company a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.64.

Axsome Therapeutics Price Performance

Shares of Axsome Therapeutics stock opened at $137.75 on Wednesday. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.37. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $139.13. The firm has a fifty day moving average price of $101.29 and a two-hundred day moving average price of $94.84. The company has a market cap of $6.72 billion, a PE ratio of -23.00 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. Analysts expect that Axsome Therapeutics will post -2.26 EPS for the current year.

Insider Buying and Selling

In related news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the transaction, the chief financial officer now owns 42,187 shares of the company’s stock, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 22.40% of the stock is owned by insiders.

Institutional Trading of Axsome Therapeutics

Hedge funds have recently bought and sold shares of the stock. Raiffeisen Bank International AG acquired a new stake in Axsome Therapeutics during the 4th quarter worth approximately $51,000. Assetmark Inc. acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at approximately $52,000. R Squared Ltd acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at approximately $64,000. Aquatic Capital Management LLC acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at approximately $76,000. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at approximately $86,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.