Citigroup Boosts Axsome Therapeutics (NASDAQ:AXSM) Price Target to $127.00

Axsome Therapeutics (NASDAQ:AXSM) had its target price upped by Citigroup from $125.00 to $127.00 in a report issued on Tuesday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on AXSM. Cantor Fitzgerald restated an overweight rating and set a $108.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, February 20th. Piper Sandler upped their price target on shares of Axsome Therapeutics from $90.00 to $113.00 and gave the stock an overweight rating in a report on Tuesday, January 16th. 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 report on Wednesday, February 21st. Robert W. Baird started coverage on shares of Axsome Therapeutics in a report on Tuesday, March 19th. They set an outperform rating and a $108.00 price target for the company. Finally, Mizuho lowered their price target on shares of Axsome Therapeutics from $112.00 to $108.00 and set a buy rating for the company in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Axsome Therapeutics currently has a consensus rating of Moderate Buy and a consensus price target of $119.75.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $79.80 on Tuesday. The business’s 50 day moving average price is $84.01 and its two-hundred day moving average price is $75.32. The company has a market cap of $3.78 billion, a PE ratio of -15.35 and a beta of 1.17. The company has a quick ratio of 3.52, a current ratio of 3.63 and a debt-to-equity ratio of 0.93. Axsome Therapeutics has a twelve month low of $55.02 and a twelve month high of $98.40.

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

Insider Activity at Axsome Therapeutics

In related news, Director Roger Jeffs sold 29,976 shares of the firm’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 transaction, the director now owns 120,756 shares of the company’s stock, valued at approximately $8,416,693.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 24.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in Axsome Therapeutics by 1.3% in the 4th quarter. Principal Financial Group Inc. now owns 9,497 shares of the company’s stock valued at $756,000 after buying an additional 120 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Axsome Therapeutics by 0.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 17,999 shares of the company’s stock valued at $1,433,000 after buying an additional 135 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Axsome Therapeutics by 1.7% during the 1st quarter. AQR Capital Management LLC now owns 8,825 shares of the company’s stock worth $544,000 after purchasing an additional 148 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Axsome Therapeutics by 6.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,717 shares of the company’s stock worth $195,000 after purchasing an additional 153 shares during the last quarter. Finally, American International Group Inc. increased its stake in shares of Axsome Therapeutics by 0.9% during the 4th quarter. American International Group Inc. now owns 17,721 shares of the company’s stock worth $1,410,000 after purchasing an additional 162 shares during the last quarter. Hedge funds and other 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.