Axsome Therapeutics (NASDAQ:AXSM - Free Report) had its price target raised by Royal Bank of Canada from $143.00 to $192.00 in a research report sent to investors on Wednesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.
A number of other research analysts have also recently weighed in on AXSM. William Blair reissued an "outperform" rating on shares of Axsome Therapeutics in a research note on Tuesday. Needham & Company LLC lifted their price target on shares of Axsome Therapeutics from $133.00 to $153.00 and gave the company a "buy" rating in a report on Wednesday. Bank of America lifted their target price on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Robert W. Baird boosted their price objective on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Finally, Mizuho boosted their target price on shares of Axsome Therapeutics from $137.00 to $195.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $155.47.
Read Our Latest Stock Report on AXSM
Axsome Therapeutics Price Performance
Axsome Therapeutics stock traded up $8.65 during mid-day trading on Wednesday, reaching $137.75. The company had a trading volume of 1,483,178 shares, compared to its average volume of 1,102,240. Axsome Therapeutics has a 1 year low of $64.11 and a 1 year high of $139.13. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.37. The company has a market capitalization of $6.72 billion, a P/E ratio of -23.00 and a beta of 1.05. The stock's 50-day simple moving average is $100.34 and its 200-day simple moving average is $94.46.
Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating 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 company had revenue of $118.77 million during the quarter, compared to analysts' expectations of $117.83 million. On average, equities analysts predict that Axsome Therapeutics will post -2.26 EPS for the current year.
Insider Transactions at Axsome Therapeutics
In other news, CFO Nick Pizzie sold 3,000 shares of the company'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 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 represents a 6.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 22.40% of the company's stock.
Institutional Trading of Axsome Therapeutics
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in Axsome Therapeutics by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company's stock valued at $19,062,000 after purchasing an additional 27,534 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in Axsome Therapeutics during the fourth quarter valued at approximately $2,599,000. PDT Partners LLC acquired a new stake in Axsome Therapeutics during the third quarter valued at approximately $1,052,000. Pallas Capital Advisors LLC acquired a new stake in Axsome Therapeutics during the fourth quarter valued at approximately $2,237,000. Finally, Captrust Financial Advisors acquired a new stake in Axsome Therapeutics during the third quarter valued at approximately $514,000. 81.49% of the stock is owned by institutional investors and hedge funds.
About Axsome Therapeutics
(
Get Free Report)
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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