Axsome Therapeutics (NASDAQ:AXSM) PT Raised to $131.00 at Royal Bank of Canada

Axsome Therapeutics (NASDAQ:AXSM) had its price target lifted by Royal Bank of Canada from $130.00 to $131.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a buy rating and issued a $130.00 target price on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Wells Fargo & Company began coverage on shares of Axsome Therapeutics in a research report on Tuesday, September 3rd. They issued an overweight rating and a $140.00 price objective for the company. HC Wainwright reiterated a buy rating and set a $180.00 target price on shares of Axsome Therapeutics in a report on Thursday, September 5th. UBS Group lowered their price target on Axsome Therapeutics from $107.00 to $105.00 and set a buy rating for the company in a report on Tuesday, August 6th. Finally, Cantor Fitzgerald reiterated an overweight rating and set a $107.00 price objective on shares of Axsome Therapeutics in a report on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $124.64.

Axsome Therapeutics Stock Down 2.8 %

Shares of Axsome Therapeutics stock opened at $84.16 on Friday. The business has a fifty day simple moving average of $89.04 and a 200 day simple moving average of $80.92. The stock has a market cap of $4.00 billion, a PE ratio of -13.19 and a beta of 1.26. The company has a quick ratio of 2.40, a current ratio of 2.48 and a debt-to-equity ratio of 1.77. Axsome Therapeutics has a 12 month low of $55.02 and a 12 month high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Monday, August 5th. The company reported ($1.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.30) by $0.06. The company had revenue of $87.17 million during the quarter, compared to analyst estimates of $84.53 million. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. Research analysts predict that Axsome Therapeutics will post -4.73 EPS for the current year.

Insider Activity

In related news, COO Mark L. Jacobson sold 47,739 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the transaction, the chief operating officer now owns 5,783 shares in the company, valued at approximately $487,275.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the transaction, the director now directly owns 10,002 shares in the company, valued at $913,282.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Mark L. Jacobson sold 47,739 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $84.26, for a total value of $4,022,488.14. Following the sale, the chief operating officer now owns 5,783 shares in the company, valued at approximately $487,275.58. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 22.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in AXSM. CIBC Private Wealth Group LLC lifted its stake in Axsome Therapeutics by 0.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 17,999 shares of the company’s stock valued at $1,433,000 after acquiring an additional 135 shares during the last quarter. Natixis grew its holdings in Axsome Therapeutics by 13.6% during the first quarter. Natixis now owns 1,235 shares of the company’s stock worth $99,000 after purchasing an additional 148 shares during the period. Arizona State Retirement System increased its position in Axsome Therapeutics by 2.1% during the second quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock worth $695,000 after buying an additional 177 shares during the last quarter. Principal Financial Group Inc. raised its stake in Axsome Therapeutics by 2.9% in the first quarter. Principal Financial Group Inc. now owns 9,773 shares of the company’s stock valued at $780,000 after buying an additional 276 shares during the period. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Axsome Therapeutics in the second quarter valued at approximately $27,000. 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.