Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $245.00

Axsome Therapeutics (NASDAQ:AXSM) had its price objective lifted by Jefferies Financial Group from $200.00 to $245.00 in a report published on Tuesday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Several other research firms have also issued reports on AXSM. TD Cowen reiterated a “buy” rating on shares of Axsome Therapeutics in a research note on Thursday, January 29th. Oppenheimer restated an “outperform” rating and set a $220.00 price target on shares of Axsome Therapeutics in a report on Wednesday, December 31st. Robert W. Baird set a $209.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, January 13th. Leerink Partners lifted their target price on shares of Axsome Therapeutics from $150.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Wednesday, January 21st. Nineteen analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $208.72.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock opened at $180.84 on Tuesday. The company has a market cap of $9.12 billion, a PE ratio of -38.72, a price-to-earnings-growth ratio of 11.97 and a beta of 0.40. Axsome Therapeutics has a 52 week low of $86.99 and a 52 week high of $191.50. The business has a 50 day moving average price of $166.01 and a 200-day moving average price of $137.74. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 1.66.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.12). The company had revenue of $170.99 million for the quarter, compared to analysts’ expectations of $162.96 million. Axsome Therapeutics had a negative net margin of 40.90% and a negative return on equity of 277.31%. The firm’s revenue for the quarter was up 63.2% compared to the same quarter last year. Equities analysts anticipate that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Activity at Axsome Therapeutics

In related news, insider Ari Maizel sold 7,500 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $184.44, for a total value of $1,383,300.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Nick Pizzie sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $187.92, for a total value of $2,255,040.00. Following the completion of the transaction, the chief financial officer owned 42,588 shares in the company, valued at approximately $8,003,136.96. The trade was a 21.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 308,874 shares of company stock worth $51,390,805. 22.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in Axsome Therapeutics by 84.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after acquiring an additional 609,516 shares during the period. Norges Bank bought a new position in Axsome Therapeutics during the second quarter worth about $48,889,000. Invesco Ltd. increased its stake in shares of Axsome Therapeutics by 73.3% in the third quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock worth $120,303,000 after purchasing an additional 419,008 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of Axsome Therapeutics by 831.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company’s stock valued at $46,662,000 after purchasing an additional 399,000 shares during the period. Finally, Hood River Capital Management LLC bought a new stake in shares of Axsome Therapeutics in the second quarter valued at approximately $38,740,000. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

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.