Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $109.00

Axsome Therapeutics (NASDAQ:AXSM) had its price target lifted by equities research analysts at Mizuho from $108.00 to $109.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Mizuho’s price target indicates a potential upside of 39.76% from the stock’s previous close.

AXSM has been the subject of several other research reports. Truist Financial reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday. Robert W. Baird initiated coverage on Axsome Therapeutics in a research note on Tuesday, March 19th. They set an “outperform” rating and a $108.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $108.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, February 20th. Piper Sandler raised their price objective on Axsome Therapeutics from $90.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Finally, UBS Group initiated coverage on Axsome Therapeutics in a research note on Tuesday, February 6th. They set a “buy” rating and a $111.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.75.

Axsome Therapeutics Trading Down 1.5 %

Shares of AXSM stock traded down $1.18 during trading hours on Thursday, hitting $77.99. 18,146 shares of the company were exchanged, compared to its average volume of 763,465. Axsome Therapeutics has a 1 year low of $55.02 and a 1 year high of $98.40. The firm has a fifty day moving average of $84.10 and a 200 day moving average of $75.29. The company has a quick ratio of 3.52, a current ratio of 3.63 and a debt-to-equity ratio of 0.93. The firm has a market cap of $3.69 billion, a PE ratio of -15.07 and a beta of 1.17.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($1.21) by $0.48. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. The firm had revenue of $71.53 million for the quarter, compared to analyst estimates of $70.38 million. Analysts expect that Axsome Therapeutics will post -3.71 earnings per share for the current year.

Insider Activity

In related news, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the transaction, the director now owns 120,756 shares of the company’s stock, valued at $8,416,693.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 24.50% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of AXSM. JPMorgan Chase & Co. raised its position in shares of Axsome Therapeutics by 0.5% in the 1st quarter. JPMorgan Chase & Co. now owns 176,086 shares of the company’s stock worth $7,288,000 after acquiring an additional 843 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Axsome Therapeutics in the 1st quarter worth $732,000. MetLife Investment Management LLC raised its holdings in Axsome Therapeutics by 59.0% in the 1st quarter. MetLife Investment Management LLC now owns 17,348 shares of the company’s stock worth $718,000 after purchasing an additional 6,439 shares during the period. Panagora Asset Management Inc. bought a new position in Axsome Therapeutics in the 1st quarter worth $526,000. Finally, Sei Investments Co. raised its holdings in Axsome Therapeutics by 1.3% in the 1st quarter. Sei Investments Co. now owns 146,363 shares of the company’s stock worth $6,059,000 after purchasing an additional 1,909 shares during the period. 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.