Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $116.00

Axsome Therapeutics (NASDAQ:AXSM) had its target price raised by Robert W. Baird from $112.00 to $116.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also weighed in on AXSM. 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 target for the company. UBS Group decreased their target price on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. HC Wainwright restated a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a report on Thursday, September 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 price objective on shares of Axsome Therapeutics in a research report on Monday, September 16th. Finally, Needham & Company LLC reissued a “buy” rating and set a $130.00 target price on shares of Axsome Therapeutics in a research note on Tuesday. One investment analyst has rated the stock with a sell rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Axsome Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $124.93.

Axsome Therapeutics Trading Up 2.2 %

Shares of Axsome Therapeutics stock opened at $99.94 on Wednesday. Axsome Therapeutics has a fifty-two week low of $56.66 and a fifty-two week high of $105.00. The company has a quick ratio of 2.40, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of -14.98 and a beta of 1.26. The business has a fifty day simple moving average of $90.59 and a 200-day simple moving average of $84.05.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.38) by $0.04. The firm had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter in the previous year, the business posted ($1.32) earnings per share. On average, equities analysts forecast that Axsome Therapeutics will post -5.12 EPS for the current fiscal year.

Insider Transactions at Axsome Therapeutics

In related news, Director Mark E. Saad sold 11,016 shares of the company’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 completion of the transaction, the director now directly owns 10,002 shares in the company, valued at $913,282.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 22.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Axsome Therapeutics

Institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its holdings in shares of Axsome Therapeutics by 9.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,780 shares of the company’s stock worth $461,000 after buying an additional 500 shares in the last quarter. SG Americas Securities LLC raised its stake in Axsome Therapeutics by 605.5% during the first quarter. SG Americas Securities LLC now owns 15,104 shares of the company’s stock worth $1,205,000 after acquiring an additional 12,963 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Axsome Therapeutics by 8.2% during the first quarter. Sei Investments Co. now owns 35,654 shares of the company’s stock valued at $2,845,000 after acquiring an additional 2,697 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Axsome Therapeutics by 5,550.0% in the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after purchasing an additional 777 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Axsome Therapeutics by 9.0% in the first quarter. ProShare Advisors LLC now owns 9,724 shares of the company’s stock valued at $776,000 after acquiring an additional 800 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.