Analysts Set Axsome Therapeutics, Inc. (NASDAQ:AXSM) Price Target at $115.36

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $119.67.

AXSM has been the subject of several recent research reports. HC Wainwright upped their price target on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday. Royal Bank of Canada upped their price target on shares of Axsome Therapeutics from $123.00 to $128.00 and gave the stock an “outperform” rating in a research report on Tuesday. Guggenheim upped their price target on shares of Axsome Therapeutics from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Robert W. Baird assumed coverage on shares of Axsome Therapeutics in a research report on Tuesday, March 19th. They issued an “outperform” rating and a $108.00 target price for the company. Finally, Mizuho decreased their target price on shares of Axsome Therapeutics from $112.00 to $108.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, Director Roger Jeffs sold 29,976 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $69.70, for a total value of $2,089,327.20. Following the completion of the sale, the director now directly owns 120,756 shares of the company’s stock, valued at approximately $8,416,693.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 24.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Trexquant Investment LP purchased a new stake in Axsome Therapeutics during the third quarter valued at about $1,220,000. Kennedy Capital Management LLC lifted its stake in Axsome Therapeutics by 24.2% during the third quarter. Kennedy Capital Management LLC now owns 12,092 shares of the company’s stock valued at $845,000 after buying an additional 2,354 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Axsome Therapeutics by 403.8% during the third quarter. Victory Capital Management Inc. now owns 18,934 shares of the company’s stock valued at $1,323,000 after buying an additional 15,176 shares in the last quarter. Wellington Management Group LLP lifted its stake in Axsome Therapeutics by 18.9% during the third quarter. Wellington Management Group LLP now owns 237,554 shares of the company’s stock valued at $16,603,000 after buying an additional 37,843 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in Axsome Therapeutics during the third quarter valued at about $10,427,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Axsome Therapeutics Stock Up 3.2 %

AXSM stock opened at $79.17 on Thursday. The firm has a fifty day moving average price of $84.10 and a two-hundred day moving average price of $75.29. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of -15.23 and a beta of 1.17. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.63 and a quick ratio of 3.52. Axsome Therapeutics has a 1-year low of $55.02 and a 1-year high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($1.21) by $0.48. The business had revenue of $71.53 million during the quarter, compared to analyst estimates of $70.38 million. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. Research analysts predict that Axsome Therapeutics will post -3.71 EPS for the current year.

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.