Brokerages Set Axsome Therapeutics, Inc. (NASDAQ:AXSM) PT at $124.93

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has earned a consensus recommendation of “Buy” from the fourteen brokerages that are covering the stock, Marketbeat.com reports. Fourteen equities research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have issued a report on the stock in the last year is $124.93.

AXSM has been the topic of several recent research reports. UBS Group cut their price target on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Bank of America raised shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and upped their price target for the company from $95.00 to $106.00 in a report on Tuesday, August 6th. Royal Bank of Canada raised their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. HC Wainwright reissued a “buy” rating and issued a $180.00 target price on shares of Axsome Therapeutics in a research report on Monday. Finally, Wells Fargo & Company started coverage on Axsome Therapeutics in a report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price target on the stock.

Insider Buying and Selling

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the sale, the director now owns 10,002 shares in the company, valued at approximately $913,282.62. This trade represents a 52.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in AXSM. Sofinnova Investments Inc. acquired a new position in Axsome Therapeutics during the second quarter worth $24,971,000. Iron Triangle Partners LP bought a new stake in shares of Axsome Therapeutics during the third quarter worth approximately $22,671,000. Tri Locum Partners LP lifted its stake in shares of Axsome Therapeutics by 198.4% in the 2nd quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock valued at $24,674,000 after purchasing an additional 203,802 shares during the period. FMR LLC lifted its stake in Axsome Therapeutics by 20.6% in the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after buying an additional 185,951 shares during the period. Finally, Artal Group S.A. bought a new position in Axsome Therapeutics during the 1st quarter worth approximately $6,132,000. 81.49% of the stock is owned by institutional investors.

Axsome Therapeutics Stock Up 2.7 %

Shares of Axsome Therapeutics stock opened at $99.65 on Tuesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $105.00. The business has a 50-day moving average of $91.48 and a 200-day moving average of $85.67. The company has a market capitalization of $4.83 billion, a PE ratio of -15.26 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The firm had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $98.71 million. During the same quarter in the prior year, the firm posted ($1.32) earnings per share. As a group, equities analysts forecast that Axsome Therapeutics will post -4.75 EPS 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.