Brokerages Set Axsome Therapeutics, Inc. (NASDAQ:AXSM) Target Price at $258.95

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has been given an average recommendation of “Moderate Buy” by the twenty-one ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $258.95.

A number of equities analysts recently weighed in on AXSM shares. Guggenheim boosted their target price on shares of Axsome Therapeutics from $245.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Mizuho lifted their price objective on shares of Axsome Therapeutics from $228.00 to $310.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. UBS Group lifted their price objective on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the stock a “buy” rating in a research report on Friday, April 10th. TD Cowen lifted their price objective on shares of Axsome Therapeutics from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Finally, Truist Financial raised shares of Axsome Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th.

Insider Activity

In other news, Director Mark Coleman sold 6,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $230.30, for a total value of $1,381,800.00. Following the completion of the sale, the director owned 35,140 shares of the company’s stock, valued at approximately $8,092,742. The trade was a 14.58% 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. Also, CFO Nick Pizzie sold 33,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the completion of the sale, the chief financial officer directly owned 42,867 shares of the company’s stock, valued at approximately $10,291,938.03. The trade was a 43.50% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 113,686 shares of company stock valued at $26,666,006. 20.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors have recently modified their holdings of AXSM. Kemnay Advisory Services Inc. bought a new stake in shares of Axsome Therapeutics in the fourth quarter valued at about $31,000. Hollencrest Capital Management lifted its position in Axsome Therapeutics by 400.0% during the first quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock worth $34,000 after purchasing an additional 160 shares during the period. Optiver Holding B.V. lifted its position in Axsome Therapeutics by 82.3% during the third quarter. Optiver Holding B.V. now owns 288 shares of the company’s stock worth $35,000 after purchasing an additional 130 shares during the period. Ameriflex Group Inc. bought a new stake in Axsome Therapeutics during the fourth quarter worth about $37,000. Finally, Advisory Services Network LLC bought a new stake in Axsome Therapeutics during the third quarter worth about $40,000. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Price Performance

Shares of AXSM opened at $242.15 on Wednesday. The company has a market cap of $12.46 billion, a price-to-earnings ratio of -64.92 and a beta of 0.61. Axsome Therapeutics has a 1-year low of $96.09 and a 1-year high of $260.19. The company’s fifty day simple moving average is $225.21 and its 200 day simple moving average is $189.05. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.27.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). The firm had revenue of $191.20 million for the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. On average, research analysts forecast that Axsome Therapeutics will post -2.31 earnings per share for the current fiscal year.

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.