Analysts Set Axsome Therapeutics, Inc. (NASDAQ:AXSM) Target Price at $124.64

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) has been assigned a consensus recommendation of "Buy" from the fourteen analysts that are covering the company, MarketBeat.com reports. Fourteen analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $124.64.

A number of research analysts recently weighed in on the stock. StockNews.com upgraded shares of Axsome Therapeutics from a "sell" rating to a "hold" rating in a research note on Tuesday, October 1st. HC Wainwright reaffirmed a "buy" rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, September 5th. UBS Group decreased their target price on Axsome Therapeutics from $107.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, August 6th. Bank of America raised Axsome Therapeutics from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $95.00 to $106.00 in a report on Tuesday, August 6th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $130.00 price objective on shares of Axsome Therapeutics in a report on Thursday, September 5th.

Insider Activity

In related news, COO Mark L. Jacobson sold 47,739 shares of Axsome Therapeutics stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $84.26, for a total value of $4,022,488.14. Following the completion of the transaction, the chief operating officer now owns 5,783 shares in the company, valued at approximately $487,275.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Mark L. Jacobson sold 47,739 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the sale, the chief operating officer now owns 5,783 shares in the company, valued at approximately $487,275.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the transaction, the director now directly owns 10,002 shares of the company's stock, valued at $913,282.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 22.40% of the company's stock.

Institutional Trading of Axsome Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Axsome Therapeutics by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company's stock worth $298,474,000 after purchasing an additional 43,512 shares during the last quarter. Millennium Management LLC boosted its position in Axsome Therapeutics by 1.4% in the 2nd quarter. Millennium Management LLC now owns 739,819 shares of the company's stock valued at $59,555,000 after buying an additional 10,401 shares during the period. Bellevue Group AG increased its position in shares of Axsome Therapeutics by 7.9% during the first quarter. Bellevue Group AG now owns 685,476 shares of the company's stock worth $54,701,000 after acquiring an additional 50,104 shares during the period. Hood River Capital Management LLC raised its stake in shares of Axsome Therapeutics by 5.4% during the second quarter. Hood River Capital Management LLC now owns 549,066 shares of the company's stock valued at $44,200,000 after acquiring an additional 28,316 shares in the last quarter. Finally, Sofinnova Investments Inc. purchased a new stake in shares of Axsome Therapeutics in the second quarter valued at approximately $24,971,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Stock Performance

AXSM traded down $0.19 during midday trading on Friday, reaching $88.84. The company had a trading volume of 311,056 shares, compared to its average volume of 617,591. Axsome Therapeutics has a 1 year low of $55.02 and a 1 year high of $98.40. The company has a quick ratio of 2.40, a current ratio of 2.48 and a debt-to-equity ratio of 1.77. The company has a market cap of $4.22 billion, a P/E ratio of -13.62 and a beta of 1.26. The business has a 50-day moving average of $90.20 and a two-hundred day moving average of $82.58.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its earnings results on Monday, August 5th. The company reported ($1.24) EPS for the quarter, topping analysts' consensus estimates of ($1.30) by $0.06. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. The company had revenue of $87.17 million for the quarter, compared to analysts' expectations of $84.53 million. As a group, equities research analysts predict that Axsome Therapeutics will post -5.12 earnings per share for the current fiscal year.

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.