Brokerages Set Axsome Therapeutics, Inc. (NASDAQ:AXSM) PT at $167.36

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) have been given a consensus recommendation of "Buy" by the fifteen brokerages that are currently covering the stock, MarketBeat.com reports. Fifteen investment analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $167.36.

Several equities research analysts have commented on AXSM shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $153.00 target price on shares of Axsome Therapeutics in a research note on Monday, March 3rd. William Blair reaffirmed an "outperform" rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Truist Financial upped their target price on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft began coverage on shares of Axsome Therapeutics in a research report on Tuesday, February 11th. They set a "buy" rating and a $176.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th.

Axsome Therapeutics Trading Down 1.8 %

NASDAQ AXSM traded down $2.24 during trading hours on Thursday, hitting $122.17. The company's stock had a trading volume of 509,828 shares, compared to its average volume of 1,028,153. The stock has a fifty day moving average of $108.78 and a 200 day moving average of $97.76. Axsome Therapeutics has a twelve month low of $64.11 and a twelve month high of $139.13. The firm has a market capitalization of $5.96 billion, a P/E ratio of -20.40 and a beta of 1.00. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22.

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Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The firm had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. Equities research analysts forecast that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the 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 in the company, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 22.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Axsome Therapeutics

A number of large investors have recently added to or reduced their stakes in AXSM. Boxer Capital Management LLC acquired a new stake in Axsome Therapeutics in the fourth quarter valued at $39,767,000. Lazard Asset Management LLC lifted its stake in Axsome Therapeutics by 525.7% in the fourth quarter. Lazard Asset Management LLC now owns 537,669 shares of the company's stock valued at $45,492,000 after acquiring an additional 451,737 shares during the last quarter. Norges Bank acquired a new stake in Axsome Therapeutics in the fourth quarter valued at $34,100,000. BVF Inc. IL lifted its stake in Axsome Therapeutics by 32.7% in the fourth quarter. BVF Inc. IL now owns 1,388,064 shares of the company's stock valued at $117,444,000 after acquiring an additional 342,064 shares during the last quarter. Finally, Iron Triangle Partners LP acquired a new stake in Axsome Therapeutics in the third quarter valued at $22,671,000. 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.