Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives $167.64 Consensus Price Target from Brokerages

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has been given a consensus rating of “Buy” by the fifteen analysts that are currently covering the company, MarketBeat Ratings reports. Fifteen investment analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have covered the stock in the last year is $167.64.

A number of brokerages have recently weighed in on AXSM. Deutsche Bank Aktiengesellschaft started coverage on Axsome Therapeutics in a report on Tuesday, February 11th. They issued a “buy” rating and a $176.00 price objective on the stock. Morgan Stanley lifted their price objective on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $153.00 price objective on shares of Axsome Therapeutics in a research note on Wednesday, February 19th. Needham & Company LLC restated a “buy” rating and set a $153.00 target price on shares of Axsome Therapeutics in a research report on Tuesday. Finally, Mizuho increased their price target on Axsome Therapeutics from $212.00 to $216.00 and gave the stock an “outperform” rating in a research report on Thursday, March 27th.

Axsome Therapeutics Trading Down 1.7 %

Axsome Therapeutics stock opened at $109.75 on Monday. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. The stock has a market cap of $5.35 billion, a PE ratio of -18.32 and a beta of 1.00. The stock has a 50-day moving average of $120.62 and a two-hundred day moving average of $101.58. Axsome Therapeutics has a one year low of $64.11 and a one year high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $117.83 million. On average, research analysts anticipate that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Nick Pizzie sold 3,000 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the transaction, the chief financial officer now owns 42,187 shares in the company, valued at $5,529,450.09. This represents a 6.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 22.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several large investors have recently bought and sold shares of the company. Raiffeisen Bank International AG acquired a new position in Axsome Therapeutics in the 4th quarter valued at $51,000. Assetmark Inc. purchased a new stake in Axsome Therapeutics during the 4th quarter valued at about $52,000. R Squared Ltd acquired a new stake in Axsome Therapeutics in the 4th quarter valued at about $64,000. Aquatic Capital Management LLC purchased a new position in Axsome Therapeutics in the 4th quarter worth approximately $76,000. Finally, GF Fund Management CO. LTD. acquired a new position in shares of Axsome Therapeutics during the 4th quarter worth approximately $86,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

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.