Royal Bank of Canada Raises Axsome Therapeutics (NASDAQ:AXSM) Price Target to $192.00

Axsome Therapeutics (NASDAQ:AXSM) had its price target hoisted by Royal Bank of Canada from $143.00 to $192.00 in a research report released on Wednesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other equities analysts also recently weighed in on the stock. Needham & Company LLC boosted their target price on shares of Axsome Therapeutics from $133.00 to $153.00 and gave the stock a “buy” rating in a report on Wednesday. Bank of America lifted their price objective on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Truist Financial lifted their price objective 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. HC Wainwright reaffirmed a “buy” rating and set a $190.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, February 11th. Finally, StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Axsome Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $157.64.

Axsome Therapeutics Price Performance

Shares of AXSM 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. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $139.13. The company’s fifty day simple moving average is $101.29 and its 200 day simple moving average is $94.84. The company has a current ratio of 2.11, a quick ratio of 2.37 and a debt-to-equity ratio of 3.22.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. The business had revenue of $118.77 million for the quarter, compared to the consensus estimate of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. On average, research analysts forecast that Axsome Therapeutics will post -2.26 earnings per share for the current fiscal 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 22.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Raiffeisen Bank International AG bought a new stake in Axsome Therapeutics during the fourth quarter worth about $51,000. Assetmark Inc. bought a new stake in Axsome Therapeutics during the fourth quarter worth about $52,000. R Squared Ltd bought a new stake in Axsome Therapeutics during the fourth quarter worth about $64,000. Aquatic Capital Management LLC bought a new stake in Axsome Therapeutics during the fourth quarter worth about $76,000. Finally, GF Fund Management CO. LTD. bought a new stake in Axsome Therapeutics during the fourth quarter worth about $86,000. Institutional investors 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.