Robert W. Baird Raises Axsome Therapeutics (NASDAQ:AXSM) Price Target to $116.00

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) had its target price raised by investment analysts at Robert W. Baird from $112.00 to $116.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's price objective suggests a potential upside of 18.07% from the company's current price.

Other research analysts have also recently issued research reports about the company. StockNews.com cut Axsome Therapeutics from a "hold" rating to a "sell" rating in a research report on Tuesday. Cantor Fitzgerald restated an "overweight" rating and issued a $107.00 price target on shares of Axsome Therapeutics in a research note on Monday, September 16th. Needham & Company LLC restated a "buy" rating and issued a $130.00 price target on shares of Axsome Therapeutics in a research note on Tuesday. Wells Fargo & Company started coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an "overweight" rating and a $140.00 price objective for the company. Finally, Bank of America raised shares of Axsome Therapeutics from a "neutral" rating to a "buy" rating and upped their price objective for the company from $95.00 to $106.00 in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $124.93.

Axsome Therapeutics Trading Down 1.2 %

Axsome Therapeutics stock traded down $1.24 during mid-day trading on Wednesday, hitting $98.25. 870,034 shares of the company's stock traded hands, compared to its average volume of 619,304. The firm has a 50 day simple moving average of $90.55 and a two-hundred day simple moving average of $83.95. Axsome Therapeutics has a fifty-two week low of $56.66 and a fifty-two week high of $105.00. The company has a current ratio of 2.44, a quick ratio of 2.40 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, topping analysts' consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The company had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. During the same quarter last year, the firm earned ($1.32) earnings per share. On average, analysts anticipate that Axsome Therapeutics will post -5.12 earnings per share for the current year.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the firm's stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value of $1,005,870.96. Following the transaction, the director now directly owns 10,002 shares of the company's stock, valued at approximately $913,282.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 22.40% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AXSM. Janney Montgomery Scott LLC lifted its position in shares of Axsome Therapeutics by 9.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 5,780 shares of the company's stock valued at $461,000 after buying an additional 500 shares in the last quarter. SG Americas Securities LLC raised its stake in Axsome Therapeutics by 605.5% during the 1st quarter. SG Americas Securities LLC now owns 15,104 shares of the company's stock valued at $1,205,000 after purchasing an additional 12,963 shares during the period. Sei Investments Co. raised its stake in Axsome Therapeutics by 8.2% during the 1st quarter. Sei Investments Co. now owns 35,654 shares of the company's stock valued at $2,845,000 after purchasing an additional 2,697 shares during the period. Russell Investments Group Ltd. raised its stake in Axsome Therapeutics by 5,550.0% during the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company's stock valued at $63,000 after purchasing an additional 777 shares during the period. Finally, ProShare Advisors LLC raised its stake in Axsome Therapeutics by 9.0% during the 1st quarter. ProShare Advisors LLC now owns 9,724 shares of the company's stock valued at $776,000 after purchasing an additional 800 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

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.