Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $153.00

Axsome Therapeutics (NASDAQ:AXSM) had its price objective increased by Needham & Company LLC from $133.00 to $153.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently commented on AXSM. Robert W. Baird upped their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $121.00 price target on shares of Axsome Therapeutics in a report on Thursday, December 12th. Truist Financial upped their price target on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. William Blair restated an “outperform” rating on shares of Axsome Therapeutics in a research report on Tuesday. Finally, HC Wainwright reissued a “buy” rating and set a $190.00 price target on shares of Axsome Therapeutics in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.64.

Axsome Therapeutics Stock Up 6.7 %

AXSM stock opened at $137.75 on Wednesday. The company has a market cap of $6.72 billion, a price-to-earnings ratio of -23.00 and a beta of 1.05. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.37 and a current ratio of 2.11. The business’s 50-day moving average is $101.29 and its two-hundred day moving average is $94.84. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. The firm had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. As a group, analysts forecast that Axsome Therapeutics will post -2.26 earnings per share for the current year.

Insider Activity

In other news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the sale, the chief financial officer now directly owns 42,187 shares in the company, valued at $5,529,450.09. The trade was a 6.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in Axsome Therapeutics by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock worth $19,062,000 after buying an additional 27,534 shares during the period. Strategic Financial Concepts LLC purchased a new stake in shares of Axsome Therapeutics in the fourth quarter valued at $2,599,000. PDT Partners LLC bought a new stake in shares of Axsome Therapeutics in the 3rd quarter worth about $1,052,000. Pallas Capital Advisors LLC purchased a new position in shares of Axsome Therapeutics during the 4th quarter worth about $2,237,000. Finally, Captrust Financial Advisors bought a new position in Axsome Therapeutics during the 3rd quarter valued at about $514,000. 81.49% of the stock is currently 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.