Axsome Therapeutics (NASDAQ:AXSM - Free Report) had its price objective upped by Needham & Company LLC from $133.00 to $153.00 in a research report released on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.
A number of other equities research analysts have also issued reports on the company. Leerink Partners raised their price target on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft started coverage on Axsome Therapeutics in a research report on Tuesday, February 11th. They set a "buy" rating and a $176.00 target price for the company. William Blair reaffirmed an "outperform" rating on shares of Axsome Therapeutics in a research report on Tuesday. Royal Bank of Canada reaffirmed an "outperform" rating and set a $139.00 target price on shares of Axsome Therapeutics in a research report on Wednesday, January 29th. Finally, Robert W. Baird lifted their target price on Axsome Therapeutics from $112.00 to $116.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Axsome Therapeutics has an average rating of "Moderate Buy" and an average price target of $155.47.
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Axsome Therapeutics Trading Up 6.7 %
Shares of NASDAQ:AXSM traded up $8.65 during trading on Wednesday, hitting $137.75. The company had a trading volume of 1,483,146 shares, compared to its average volume of 1,090,801. The stock has a market cap of $6.72 billion, a price-to-earnings ratio of -23.00 and a beta of 1.05. Axsome Therapeutics has a one year low of $64.11 and a one year high of $139.13. The company has a fifty day simple moving average of $100.34 and a two-hundred day simple moving average of $94.46. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.37.
Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. The firm had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. As a group, equities analysts forecast that Axsome Therapeutics will post -2.26 earnings per share for the current year.
Insider Activity
In other news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the transaction, the chief financial officer now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 22.40% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raiffeisen Bank International AG purchased a new position in Axsome Therapeutics during the 4th quarter worth $51,000. Assetmark Inc. purchased a new position in Axsome Therapeutics during the 4th quarter worth $52,000. R Squared Ltd purchased a new position in Axsome Therapeutics during the 4th quarter worth $64,000. Aquatic Capital Management LLC purchased a new position in Axsome Therapeutics during the 4th quarter worth $76,000. Finally, GF Fund Management CO. LTD. purchased a new position in Axsome Therapeutics during the 4th quarter worth $86,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.
Axsome Therapeutics Company Profile
(
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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.
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