Bank of America Issues Positive Forecast for Axsome Therapeutics (NASDAQ:AXSM) Stock Price

Axsome Therapeutics (NASDAQ:AXSM) had its target price raised by Bank of America from $143.00 to $167.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Other research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Axsome Therapeutics in a research report on Tuesday. They set a “buy” rating and a $176.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $139.00 target price on shares of Axsome Therapeutics in a research note on Wednesday, January 29th. HC Wainwright reissued a “buy” rating and issued a $190.00 target price on shares of Axsome Therapeutics in a research note on Tuesday. Mizuho upped their target price on shares of Axsome Therapeutics from $137.00 to $195.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Robert W. Baird upped their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.13.

Axsome Therapeutics Stock Up 0.1 %

Shares of AXSM opened at $131.68 on Tuesday. The company has a 50-day simple moving average of $96.55 and a 200-day simple moving average of $92.67. The firm has a market capitalization of $6.38 billion, a P/E ratio of -20.17 and a beta of 1.05. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $134.18.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. The business 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 quarter in the prior year, the business earned ($1.32) earnings per share. On average, equities research analysts expect that Axsome Therapeutics will post -4.7 earnings per share for the current year.

Institutional Trading of Axsome Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Pitcairn Co. grew its stake in Axsome Therapeutics by 3.4% during the fourth quarter. Pitcairn Co. now owns 4,562 shares of the company’s stock worth $386,000 after buying an additional 148 shares during the last quarter. Meridian Wealth Management LLC grew its stake in shares of Axsome Therapeutics by 0.7% during the fourth quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company’s stock valued at $1,791,000 after purchasing an additional 150 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Axsome Therapeutics by 4.4% during the fourth quarter. Ameritas Investment Partners Inc. now owns 3,852 shares of the company’s stock valued at $326,000 after purchasing an additional 162 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Axsome Therapeutics by 1.8% during the fourth quarter. Arizona State Retirement System now owns 9,054 shares of the company’s stock valued at $766,000 after purchasing an additional 164 shares during the last quarter. Finally, Intrust Bank NA grew its stake in shares of Axsome Therapeutics by 6.9% during the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company’s stock valued at $239,000 after purchasing an additional 183 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

About Axsome Therapeutics

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.