Axsome Therapeutics (NASDAQ:AXSM) Given New $167.00 Price Target at Bank of America

Axsome Therapeutics (NASDAQ:AXSM) had its price target lifted by analysts at Bank of America from $143.00 to $167.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price target points to a potential upside of 24.96% from the company’s current price.

Several other research firms also recently weighed in on AXSM. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Axsome Therapeutics in a research report on Tuesday. They issued a “buy” rating and a $176.00 price target for the company. Leerink Partners upped their target price on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $133.00 price objective on shares of Axsome Therapeutics in a research report on Monday. Finally, Mizuho lifted their price objective on shares of Axsome Therapeutics from $137.00 to $195.00 and gave the stock an “outperform” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Axsome Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $145.80.

Axsome Therapeutics Trading Up 5.2 %

Shares of AXSM traded up $6.56 during mid-day trading on Tuesday, reaching $133.64. 153,935 shares of the company’s stock traded hands, compared to its average volume of 1,056,370. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $132.25. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. The stock has a market cap of $6.48 billion, a P/E ratio of -20.47 and a beta of 1.05. The stock’s 50-day moving average is $94.72 and its two-hundred day moving average is $91.78.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. The firm had revenue of $104.76 million during 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 period in the previous year, the firm earned ($1.32) earnings per share. Research analysts forecast that Axsome Therapeutics will post -4.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. acquired a new position in Axsome Therapeutics in the 4th quarter valued at $52,000. R Squared Ltd purchased a new position in Axsome Therapeutics during the fourth quarter worth about $64,000. KBC Group NV boosted its holdings in Axsome Therapeutics by 40.5% in the 4th quarter. KBC Group NV now owns 1,336 shares of the company’s stock valued at $113,000 after purchasing an additional 385 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Axsome Therapeutics by 22.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after buying an additional 318 shares during the period. Finally, Moors & Cabot Inc. acquired a new stake in shares of Axsome Therapeutics during the 3rd quarter worth approximately $200,000. 81.49% of the stock is owned by hedge funds and other 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.