Axsome Therapeutics (NASDAQ:AXSM) Stock Price Expected to Rise, Truist Financial Analyst Says

Axsome Therapeutics (NASDAQ:AXSM - Free Report) had its target price raised by Truist Financial from $150.00 to $180.00 in a report published on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also issued reports on AXSM. HC Wainwright reiterated a "buy" rating on shares of Axsome Therapeutics in a report on Tuesday, December 31st. Cantor Fitzgerald reiterated an "overweight" rating and issued a $121.00 target price on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Royal Bank of Canada upped their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Mizuho dropped their target price on shares of Axsome Therapeutics from $124.00 to $122.00 and set an "outperform" rating for the company in a research report on Tuesday, December 31st. Finally, Robert W. Baird increased their target price on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $129.43.

Axsome Therapeutics Stock Up 11.5 %

Axsome Therapeutics stock traded up $9.22 during midday trading on Monday, hitting $89.27. The stock had a trading volume of 1,879,139 shares, compared to its average volume of 1,023,747. The business has a fifty day moving average price of $92.17 and a 200 day moving average price of $89.16. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $105.00. The stock has a market cap of $4.33 billion, a P/E ratio of -13.67 and a beta of 1.04.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The firm had revenue of $104.76 million for the quarter, compared to analysts' expectations of $98.71 million. During the same quarter last year, the company earned ($1.32) EPS. Research analysts predict that Axsome Therapeutics will post -4.6 EPS for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

Several large investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. purchased a new stake in Axsome Therapeutics during the 2nd quarter valued at about $27,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Axsome Therapeutics in the 2nd quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Axsome Therapeutics by 22.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company's stock worth $156,000 after buying an additional 318 shares during the period. Moors & Cabot Inc. bought a new position in shares of Axsome Therapeutics during the third quarter valued at approximately $200,000. Finally, Whalen Wealth Management Inc. bought a new stake in Axsome Therapeutics in the third quarter worth $236,000. Hedge funds and other 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.