Axsome Therapeutics (NASDAQ:AXSM) Given New $160.00 Price Target at Robert W. Baird

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) had its target price upped by investment analysts at Robert W. Baird from $132.00 to $160.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's price objective suggests a potential upside of 28.61% from the stock's previous close.

Other research analysts have also issued reports about the company. Wells Fargo & Company upped their price objective on Axsome Therapeutics from $140.00 to $160.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Truist Financial raised their price target on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. StockNews.com upgraded shares of Axsome Therapeutics from a "sell" rating to a "hold" rating in a research report on Wednesday, November 20th. Leerink Partners lifted their price objective on Axsome Therapeutics from $110.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Finally, Royal Bank of Canada increased their price target on shares of Axsome Therapeutics from $143.00 to $192.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $167.36.

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Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock traded down $0.69 during trading on Monday, hitting $124.41. 553,470 shares of the stock were exchanged, compared to its average volume of 1,040,183. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $139.13. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of -20.77 and a beta of 0.99. The company has a fifty day moving average price of $107.34 and a 200-day moving average price of $97.28. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22.

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

Insider Buying and Selling at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the firm's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the sale, the chief financial officer now owns 42,187 shares in the company, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 22.40% of the company's stock.

Institutional Investors Weigh In On Axsome Therapeutics

Institutional investors have recently made changes to their positions in the business. Raiffeisen Bank International AG bought a new position in Axsome Therapeutics during the 4th quarter valued at approximately $51,000. Assetmark Inc. purchased a new position in Axsome Therapeutics in the fourth quarter worth about $52,000. R Squared Ltd purchased a new stake in Axsome Therapeutics during the 4th quarter valued at $64,000. Aquatic Capital Management LLC purchased a new position in Axsome Therapeutics in the 4th quarter worth about $76,000. Finally, GF Fund Management CO. LTD. bought a new position in Axsome Therapeutics during the fourth quarter valued at approximately $86,000. Hedge funds and other institutional investors own 81.49% of the company's stock.

About Axsome Therapeutics

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.