Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $190.00

Axsome Therapeutics (NASDAQ:AXSM) had its price target increased by analysts at Morgan Stanley from $125.00 to $190.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 48.06% from the stock’s current price.

AXSM has been the subject of a number of other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $153.00 price objective on shares of Axsome Therapeutics in a research note on Wednesday, February 19th. Royal Bank of Canada increased their target price on Axsome Therapeutics from $143.00 to $192.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Robert W. Baird set a $132.00 target price on Axsome Therapeutics in a research report on Monday, February 3rd. Truist Financial upped their price target on Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Bank of America increased their price objective on Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $165.36.

Axsome Therapeutics Trading Up 1.0 %

Shares of NASDAQ AXSM opened at $128.33 on Thursday. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $139.13. The company has a market cap of $6.26 billion, a price-to-earnings ratio of -21.42 and a beta of 1.05. The business has a fifty day simple moving average of $102.78 and a 200-day simple moving average of $95.62.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share (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 for the quarter, compared to the consensus estimate of $117.83 million. Sell-side analysts predict that Axsome Therapeutics will post -2.79 EPS for the current year.

Insider Transactions at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction on Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the sale, the chief financial officer now owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 22.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AXSM. TFG Asset Management GP Ltd acquired a new position in Axsome Therapeutics during the fourth quarter valued at approximately $3,490,000. GF Fund Management CO. LTD. bought a new stake in shares of Axsome Therapeutics during the 4th quarter worth $86,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new position in Axsome Therapeutics in the 4th quarter valued at $2,853,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Axsome Therapeutics by 20.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,642 shares of the company’s stock worth $4,877,000 after acquiring an additional 9,928 shares during the period. Finally, Woodline Partners LP lifted its position in Axsome Therapeutics by 36.8% during the 4th quarter. Woodline Partners LP now owns 408,441 shares of the company’s stock worth $34,558,000 after acquiring an additional 109,872 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

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.