Axsome Therapeutics (NASDAQ:AXSM) Stock Gets Price Target Reduction from Royal Bank Of Canada

Axsome Therapeutics (NASDAQ:AXSM) had its target price decreased by Royal Bank Of Canada from $295.00 to $273.00 in a research report sent to investors on Tuesday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

A number of other analysts have also recently weighed in on the stock. UBS Group lowered their target price on shares of Axsome Therapeutics from $256.00 to $239.00 and set a “buy” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft cut their price target on shares of Axsome Therapeutics from $280.00 to $267.00 and set a “buy” rating for the company in a research note on Tuesday, September 29th. HC Wainwright restated a “buy” rating on shares of Axsome Therapeutics in a research note on Friday, September 25th. Mizuho lifted their price objective on Axsome Therapeutics from $306.00 to $316.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Finally, Needham & Company LLC upped their price objective on Axsome Therapeutics from $267.00 to $268.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $267.58.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock opened at $129.80 on Tuesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.42 and a quick ratio of 1.34. The company’s fifty day moving average price is $179.09 and its two-hundred day moving average price is $198.13. Axsome Therapeutics has a 52-week low of $123.00 and a 52-week high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, November 2nd. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.38. The company had revenue of $259.69 million during the quarter, compared to analysts’ expectations of $249.19 million. Axsome Therapeutics had a negative net margin of 18.18% and a negative return on equity of 198.73%. The business’s revenue was up 51.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.94) EPS. Analysts anticipate that Axsome Therapeutics will post -2.56 earnings per share for the current year.

Insider Buying and Selling at Axsome Therapeutics

In related news, COO Mark Jacobson sold 10,000 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $208.65, for a total transaction of $2,086,500.00. Following the completion of the sale, the chief operating officer owned 10,000 shares in the company, valued at $2,086,500. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 20.60% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AXSM. Maryland State Retirement & Pension System increased its position in Axsome Therapeutics by 15.5% in the 3rd quarter. Maryland State Retirement & Pension System now owns 2,669 shares of the company’s stock valued at $492,000 after acquiring an additional 359 shares in the last quarter. Jacobi Capital Management LLC acquired a new stake in shares of Axsome Therapeutics during the third quarter worth $47,000. Jefferies Financial Group Inc. grew its position in shares of Axsome Therapeutics by 22.4% during the 3rd quarter. Jefferies Financial Group Inc. now owns 31,373 shares of the company’s stock worth $5,785,000 after buying an additional 5,745 shares during the period. Machina Capital S.A.S. bought a new position in shares of Axsome Therapeutics during the third quarter worth $632,000. Finally, Illinois Municipal Retirement Fund grew its stake in Axsome Therapeutics by 72.6% in the third quarter. Illinois Municipal Retirement Fund now owns 13,818 shares of the company’s stock valued at $2,548,000 after acquiring an additional 5,812 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. Founded in 2012 and headquartered in New York, the company develops medicines for conditions with significant unmet medical needs, including depression, narcolepsy, excessive daytime sleepiness, and other neurological disorders.

Axsome’s commercial products include Auvelity (dextromethorphan and bupropion), an oral treatment approved in the United States for major depressive disorder in adults, and Sunosi (solriamfetol), a therapy for excessive daytime sleepiness associated with narcolepsy or obstructive sleep apnea.