Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $245.00 at Guggenheim

Axsome Therapeutics (NASDAQ:AXSM) had its target price boosted by stock analysts at Guggenheim from $220.00 to $245.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 54.33% from the company’s previous close.

AXSM has been the subject of several other reports. Cantor Fitzgerald restated an “overweight” rating on shares of Axsome Therapeutics in a research report on Wednesday, January 14th. Morgan Stanley set a $207.00 price target on Axsome Therapeutics in a research note on Tuesday, February 24th. Leerink Partners boosted their price target on Axsome Therapeutics from $150.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Truist Financial set a $200.00 price objective on Axsome Therapeutics in a research report on Monday, February 23rd. Finally, Robert W. Baird set a $209.00 price objective on Axsome Therapeutics in a research note on Tuesday, January 13th. Seventeen analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.59.

Axsome Therapeutics Price Performance

AXSM stock opened at $158.75 on Wednesday. The company’s 50-day moving average price is $174.05 and its two-hundred day moving average price is $151.65. The firm has a market cap of $8.12 billion, a P/E ratio of -43.02 and a beta of 0.43. The company has a quick ratio of 1.48, a current ratio of 1.55 and a debt-to-equity ratio of 1.38. Axsome Therapeutics has a 12 month low of $86.99 and a 12 month high of $191.50.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Monday, February 23rd. The company reported ($0.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.14. The company had revenue of $196.00 million during the quarter, compared to the consensus estimate of $191.33 million. Axsome Therapeutics had a negative net margin of 28.69% and a negative return on equity of 232.61%. The business’s revenue for the quarter was up 65.0% on a year-over-year basis. On average, analysts anticipate that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Activity at Axsome Therapeutics

In related news, Director Mark Coleman sold 25,000 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $161.11, for a total transaction of $4,027,750.00. Following the sale, the director owned 47,140 shares in the company, valued at $7,594,725.40. The trade was a 34.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Nick Pizzie sold 12,000 shares of the business’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $187.92, for a total value of $2,255,040.00. Following the sale, the chief financial officer owned 42,588 shares in the company, valued at $8,003,136.96. This represents a 21.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 289,279 shares of company stock valued at $49,496,963. 22.40% of the stock is owned by company insiders.

Institutional Trading of Axsome Therapeutics

Hedge funds have recently made changes to their positions in the company. Birchview Capital LP increased its stake in shares of Axsome Therapeutics by 1.0% in the fourth quarter. Birchview Capital LP now owns 6,061 shares of the company’s stock valued at $1,107,000 after buying an additional 61 shares during the period. PNC Financial Services Group Inc. boosted its position in Axsome Therapeutics by 3.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company’s stock worth $351,000 after buying an additional 65 shares during the period. Xponance LLC boosted its position in Axsome Therapeutics by 2.4% during the 4th quarter. Xponance LLC now owns 3,265 shares of the company’s stock worth $596,000 after buying an additional 76 shares during the period. Allworth Financial LP grew its holdings in Axsome Therapeutics by 6.6% during the 3rd quarter. Allworth Financial LP now owns 1,442 shares of the company’s stock worth $175,000 after acquiring an additional 89 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Axsome Therapeutics by 4.2% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 2,190 shares of the company’s stock worth $400,000 after acquiring an additional 89 shares during the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.