Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $190.00

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) had its price objective hoisted by equities researchers at Morgan Stanley from $125.00 to $190.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's price target indicates a potential upside of 49.43% from the stock's previous close.

Several other research firms have also recently issued reports on AXSM. Wells Fargo & Company lifted 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. Royal Bank of Canada upped their price objective on Axsome Therapeutics from $143.00 to $192.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. HC Wainwright increased their price objective on Axsome Therapeutics from $190.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, February 20th. William Blair restated an "outperform" rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Finally, Truist Financial increased their price target 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. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $167.36.

Remove Ads

Axsome Therapeutics Stock Down 0.3 %

Axsome Therapeutics stock traded down $0.39 during mid-day trading on Thursday, reaching $127.15. 836,153 shares of the company's stock were exchanged, compared to its average volume of 1,074,451. The company has a fifty day moving average of $105.00 and a 200-day moving average of $96.52. The company has a market cap of $6.20 billion, a P/E ratio of -21.23 and a beta of 1.05. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. Axsome Therapeutics has a twelve month low of $64.11 and a twelve month high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released 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. 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 for the quarter, compared to analyst estimates of $117.83 million. Sell-side analysts expect that Axsome Therapeutics will post -2.79 EPS for the current year.

Insiders Place Their Bets

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares of the company's stock, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of AXSM. BVF Inc. IL grew its position in Axsome Therapeutics by 32.7% in the 4th quarter. BVF Inc. IL now owns 1,388,064 shares of the company's stock valued at $117,444,000 after buying an additional 342,064 shares during the last quarter. FMR LLC lifted its stake in shares of Axsome Therapeutics by 20.6% in the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company's stock worth $97,786,000 after acquiring an additional 185,951 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Axsome Therapeutics by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 912,538 shares of the company's stock valued at $77,228,000 after acquiring an additional 4,079 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Axsome Therapeutics by 1.1% during the third quarter. Wellington Management Group LLP now owns 742,745 shares of the company's stock worth $66,750,000 after acquiring an additional 8,125 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Axsome Therapeutics by 10.8% during the fourth quarter. Invesco Ltd. now owns 692,464 shares of the company's stock worth $58,589,000 after acquiring an additional 67,285 shares during the period. 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.