Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $200.00

Axsome Therapeutics (NASDAQ:AXSM) had its price objective upped by Truist Financial from $190.00 to $200.00 in a research report released on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

AXSM has been the subject of several other research reports. Leerink Partners raised their target price on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Royal Bank of Canada raised their target price on Axsome Therapeutics from $143.00 to $192.00 and gave the stock an “outperform” rating in a research report on Wednesday. Mizuho raised their target price on Axsome Therapeutics from $137.00 to $195.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft began coverage on Axsome Therapeutics in a research report on Tuesday, February 11th. They issued a “buy” rating and a $176.00 target price for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $190.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $157.64.

Axsome Therapeutics Stock Performance

AXSM opened at $137.75 on Wednesday. The firm has a market cap of $6.72 billion, a PE ratio of -23.00 and a beta of 1.05. The company has a quick ratio of 2.37, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. The business has a fifty day simple moving average of $101.29 and a 200-day simple moving average of $94.84. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.01. The business had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $117.83 million. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. As a group, equities analysts predict that Axsome Therapeutics will post -2.26 EPS 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 firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction 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. This trade represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

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

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.