Leerink Partners Issues Positive Forecast for Axsome Therapeutics (NASDAQ:AXSM) Stock Price

Axsome Therapeutics (NASDAQ:AXSM) had its target price upped by Leerink Partners from $110.00 to $150.00 in a research report report published on Monday,Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts have also issued reports about the company. Truist Financial increased their target price on Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Robert W. Baird raised their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $121.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Finally, William Blair restated an “outperform” rating on shares of Axsome Therapeutics in a report on Friday, January 24th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.13.

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock opened at $131.55 on Monday. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The firm has a market capitalization of $6.37 billion, a P/E ratio of -20.15 and a beta of 1.05. The stock has a fifty day moving average price of $96.55 and a 200 day moving average price of $92.67. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $134.18.

Axsome Therapeutics (NASDAQ:AXSM) last released its 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 business had revenue of $104.76 million for the quarter, compared to analysts’ expectations 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 period last year, the company earned ($1.32) earnings per share. Equities research analysts anticipate that Axsome Therapeutics will post -4.7 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AXSM. Northwestern Mutual Wealth Management Co. bought a new position in Axsome Therapeutics in the second quarter worth about $27,000. Assetmark Inc. acquired a new position in Axsome Therapeutics during the 4th quarter valued at approximately $52,000. R Squared Ltd bought a new position in Axsome Therapeutics during the 4th quarter worth $64,000. KBC Group NV lifted its stake in Axsome Therapeutics by 40.5% in the fourth quarter. KBC Group NV now owns 1,336 shares of the company’s stock valued at $113,000 after buying an additional 385 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Axsome Therapeutics by 22.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after acquiring an additional 318 shares during the period. 81.49% of the stock is currently owned by institutional investors.

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.