Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $216.00

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) had its price objective boosted by research analysts at Mizuho from $212.00 to $216.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Mizuho's target price would indicate a potential upside of 86.45% from the stock's current price.

A number of other equities analysts have also weighed in on AXSM. Robert W. Baird upped their target price on shares of Axsome Therapeutics from $132.00 to $160.00 and gave the stock an "outperform" rating in a research note on Monday, March 3rd. HC Wainwright reaffirmed a "buy" rating and set a $200.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, March 6th. Leerink Partners lifted their target price on Axsome Therapeutics from $110.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday, February 10th. Bank of America upped their price target on Axsome Therapeutics from $143.00 to $167.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Finally, Wells Fargo & Company lifted their price objective on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $167.64.

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Axsome Therapeutics Trading Down 2.3 %

Shares of Axsome Therapeutics stock traded down $2.68 during trading hours on Thursday, hitting $115.85. The company's stock had a trading volume of 240,795 shares, compared to its average volume of 653,953. The company has a market capitalization of $5.65 billion, a PE ratio of -19.32 and a beta of 1.00. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. The stock has a 50 day moving average of $119.67 and a 200 day moving average of $101.22. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $117.83 million. Analysts predict that Axsome Therapeutics will post -2.79 earnings per share for the current year.

Insiders Place Their Bets

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the firm's stock in a transaction 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 owns 42,187 shares of the company's stock, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 22.40% of the company's stock.

Hedge Funds Weigh In On Axsome Therapeutics

Several large investors have recently modified their holdings of AXSM. 111 Capital acquired a new position in Axsome Therapeutics in the 4th quarter valued at about $278,000. TFG Asset Management GP Ltd bought a new stake in shares of Axsome Therapeutics during the fourth quarter worth approximately $3,490,000. GF Fund Management CO. LTD. acquired a new position in shares of Axsome Therapeutics in the fourth quarter valued at approximately $86,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new stake in Axsome Therapeutics during the 4th quarter worth approximately $2,853,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Axsome Therapeutics by 20.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,642 shares of the company's stock worth $4,877,000 after purchasing an additional 9,928 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

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.