Truist Financial Increases Axsome Therapeutics (NASDAQ:AXSM) Price Target to $200.00

Axsome Therapeutics (NASDAQ:AXSM - Free Report) had its target price raised by Truist Financial from $190.00 to $200.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also issued reports about the stock. StockNews.com raised shares of Axsome Therapeutics from a "sell" rating to a "hold" rating in a research report on Wednesday, November 20th. Mizuho raised their price objective on Axsome Therapeutics from $137.00 to $195.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. Royal Bank of Canada lifted their target price on Axsome Therapeutics from $143.00 to $192.00 and gave the company an "outperform" rating in a research report on Wednesday. Needham & Company LLC increased their price target on Axsome Therapeutics from $133.00 to $153.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Robert W. Baird raised their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $155.47.

Axsome Therapeutics Trading Up 6.7 %

AXSM traded up $8.65 during trading hours on Wednesday, reaching $137.75. 1,539,175 shares of the company's stock traded hands, compared to its average volume of 1,102,245. The firm has a 50-day moving average price of $100.34 and a 200 day moving average price of $94.46. The firm has a market capitalization of $6.72 billion, a PE ratio of -23.00 and a beta of 1.05. The company has a quick ratio of 2.37, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. Axsome Therapeutics has a 52-week low of $64.11 and a 52-week high of $139.13.

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. The firm had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. As a group, sell-side analysts predict that Axsome Therapeutics will post -2.26 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the company's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the transaction, the chief financial officer now directly owns 42,187 shares of the company's stock, valued at $5,529,450.09. This represents a 6.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 22.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Large investors have recently modified their holdings of the business. Raiffeisen Bank International AG acquired a new stake in Axsome Therapeutics in the 4th quarter worth approximately $51,000. Assetmark Inc. purchased a new position in shares of Axsome Therapeutics in the fourth quarter worth $52,000. R Squared Ltd purchased a new position in shares of Axsome Therapeutics in the fourth quarter worth $64,000. Aquatic Capital Management LLC acquired a new stake in shares of Axsome Therapeutics during the fourth quarter worth $76,000. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of Axsome Therapeutics during the fourth quarter valued at $86,000. Hedge funds and other institutional investors own 81.49% of the company's stock.

Axsome Therapeutics Company Profile

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.