Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $259.00 at UBS Group

Axsome Therapeutics (NASDAQ:AXSM) had its price objective increased by UBS Group from $251.00 to $259.00 in a research note released on Friday morning, MarketBeat Ratings reports. They currently have a buy rating on the stock.

AXSM has been the subject of several other research reports. Royal Bank Of Canada boosted their target price on shares of Axsome Therapeutics from $219.00 to $222.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Piper Sandler boosted their target price on shares of Axsome Therapeutics from $148.00 to $223.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Mizuho set a $230.00 target price on shares of Axsome Therapeutics in a research note on Thursday, February 19th. Needham & Company LLC reiterated a “buy” rating and set a $225.00 target price on shares of Axsome Therapeutics in a research note on Monday, February 23rd. Finally, Jefferies Financial Group set a $215.00 target price on shares of Axsome Therapeutics in a research note on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $218.06.

Axsome Therapeutics Stock Down 0.4%

Shares of NASDAQ:AXSM opened at $178.11 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.48 and a debt-to-equity ratio of 1.38. The company has a fifty day simple moving average of $170.25 and a 200 day simple moving average of $155.58. The firm has a market cap of $9.11 billion, a PE ratio of -48.27 and a beta of 0.48. Axsome Therapeutics has a 12-month low of $93.95 and a 12-month high of $191.50.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Monday, February 23rd. The company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.14. The business had revenue of $196.00 million during the quarter, compared to analyst estimates of $191.33 million. Axsome Therapeutics had a negative net margin of 28.69% and a negative return on equity of 232.61%. The company’s revenue for the quarter was up 65.0% on a year-over-year basis. On average, equities research analysts anticipate that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 12,000 shares of the business’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $187.92, for a total transaction of $2,255,040.00. Following the completion of the transaction, the chief financial officer owned 42,588 shares of the company’s stock, valued at approximately $8,003,136.96. The trade was a 21.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Mark L. Jacobson sold 35,378 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $161.88, for a total transaction of $5,726,990.64. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 112,288 shares of company stock valued at $19,408,377. Company insiders own 22.30% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of AXSM. Versant Capital Management Inc boosted its holdings in shares of Axsome Therapeutics by 20,300.0% during the third quarter. Versant Capital Management Inc now owns 204 shares of the company’s stock valued at $25,000 after acquiring an additional 203 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in Axsome Therapeutics in the fourth quarter worth about $31,000. First Horizon Corp acquired a new stake in Axsome Therapeutics in the third quarter worth about $34,000. Optiver Holding B.V. lifted its holdings in Axsome Therapeutics by 82.3% in the third quarter. Optiver Holding B.V. now owns 288 shares of the company’s stock worth $35,000 after purchasing an additional 130 shares during the period. Finally, Ameriflex Group Inc. acquired a new stake in Axsome Therapeutics in the fourth quarter worth about $37,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

About Axsome Therapeutics

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.