Axsome Therapeutics (NASDAQ:AXSM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) had its price target upped by analysts at Wells Fargo & Company from $140.00 to $160.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price target points to a potential upside of 22.00% from the company's current price.

A number of other research analysts have also recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft began coverage on shares of Axsome Therapeutics in a report on Tuesday. They set a "buy" rating and a $176.00 price objective for the company. Leerink Partners lifted their price objective on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Mizuho boosted their price target on shares of Axsome Therapeutics from $137.00 to $195.00 and gave the stock an "outperform" rating in a report on Tuesday. Finally, William Blair restated an "outperform" rating on shares of Axsome Therapeutics in a report on Friday, January 24th. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Axsome Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $147.13.

Axsome Therapeutics Stock Down 0.4 %

AXSM traded down $0.53 during midday trading on Wednesday, hitting $131.15. The company had a trading volume of 1,064,118 shares, compared to its average volume of 954,569. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of -20.08 and a beta of 1.05. The stock's 50 day moving average price is $97.84 and its 200 day moving average price is $93.27. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $134.18. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.38) by $0.04. The firm had revenue of $104.76 million during the quarter, compared to analysts' expectations of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same period last year, the company earned ($1.32) earnings per share. On average, research analysts anticipate that Axsome Therapeutics will post -4.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer now owns 42,187 shares of the company's stock, valued at $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 22.40% of the company's stock.

Institutional Trading of Axsome Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Pitcairn Co. increased its holdings in Axsome Therapeutics by 3.4% during the 4th quarter. Pitcairn Co. now owns 4,562 shares of the company's stock worth $386,000 after acquiring an additional 148 shares during the period. Meridian Wealth Management LLC increased its holdings in Axsome Therapeutics by 0.7% during the 4th quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company's stock worth $1,791,000 after acquiring an additional 150 shares during the period. Ameritas Investment Partners Inc. increased its holdings in Axsome Therapeutics by 4.4% during the 4th quarter. Ameritas Investment Partners Inc. now owns 3,852 shares of the company's stock worth $326,000 after acquiring an additional 162 shares during the period. Arizona State Retirement System increased its holdings in Axsome Therapeutics by 1.8% during the 4th quarter. Arizona State Retirement System now owns 9,054 shares of the company's stock worth $766,000 after acquiring an additional 164 shares during the period. Finally, Intrust Bank NA increased its holdings in Axsome Therapeutics by 6.9% during the 4th quarter. Intrust Bank NA now owns 2,823 shares of the company's stock worth $239,000 after acquiring an additional 183 shares during the period. 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.