Axsome Therapeutics (NASDAQ:AXSM) PT Raised to $131.00 at Royal Bank of Canada

Axsome Therapeutics (NASDAQ:AXSM) had its target price lifted by stock analysts at Royal Bank of Canada from $130.00 to $131.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 51.29% from the company’s current price.

AXSM has been the subject of a number of other reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a research note on Monday, September 16th. Bank of America upgraded Axsome Therapeutics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $95.00 to $106.00 in a research note on Tuesday, August 6th. Wells Fargo & Company started coverage on Axsome Therapeutics in a research report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $130.00 target price on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Finally, UBS Group lowered their price target on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $124.64.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $86.59 on Friday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.40 and a current ratio of 2.48. The stock has a 50-day simple moving average of $89.04 and a two-hundred day simple moving average of $80.88. The firm has a market capitalization of $4.11 billion, a PE ratio of -13.57 and a beta of 1.26. Axsome Therapeutics has a 52-week low of $55.02 and a 52-week high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.30) by $0.06. The firm had revenue of $87.17 million for the quarter, compared to analysts’ expectations of $84.53 million. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. Analysts forecast that Axsome Therapeutics will post -4.73 EPS for the current year.

Insider Buying and Selling

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the sale, the director now directly owns 10,002 shares in the company, valued at $913,282.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the transaction, the director now owns 10,002 shares in the company, valued at $913,282.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Mark L. Jacobson sold 47,739 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the sale, the chief operating officer now directly owns 5,783 shares in the company, valued at approximately $487,275.58. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 22.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AXSM. Handelsbanken Fonder AB boosted its holdings in Axsome Therapeutics by 19.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 12,300 shares of the company’s stock valued at $1,105,000 after acquiring an additional 2,000 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Axsome Therapeutics during the third quarter valued at $1,038,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Axsome Therapeutics in the second quarter worth about $47,000. Clearbridge Investments LLC increased its stake in Axsome Therapeutics by 19.5% in the 2nd quarter. Clearbridge Investments LLC now owns 106,767 shares of the company’s stock worth $8,595,000 after buying an additional 17,397 shares during the period. Finally, Dana Investment Advisors Inc. lifted its holdings in Axsome Therapeutics by 3.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 19,724 shares of the company’s stock valued at $1,588,000 after buying an additional 697 shares in 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.