Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $116.00

Axsome Therapeutics (NASDAQ:AXSM) had its price target raised by Robert W. Baird from $112.00 to $116.00 in a report issued on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently issued reports on AXSM. Wells Fargo & Company began coverage on Axsome Therapeutics in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price target on the stock. Royal Bank of Canada lifted their price target 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. UBS Group cut their target price on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. StockNews.com cut Axsome Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $124.93.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $93.17 on Wednesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.40. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of -14.27 and a beta of 1.26. The firm’s 50 day simple moving average is $90.66 and its 200-day simple moving average is $84.35. Axsome Therapeutics has a 12 month low of $56.66 and a 12 month high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. During the same quarter in the previous year, the company earned ($1.32) earnings per share. Analysts expect that Axsome Therapeutics will post -5.04 EPS for the current year.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the transaction, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. This represents a 52.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 22.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors have recently made changes to their positions in AXSM. Janney Montgomery Scott LLC grew its stake in shares of Axsome Therapeutics by 9.5% in the first quarter. Janney Montgomery Scott LLC now owns 5,780 shares of the company’s stock valued at $461,000 after buying an additional 500 shares in the last quarter. SG Americas Securities LLC grew its position in Axsome Therapeutics by 605.5% in the 1st quarter. SG Americas Securities LLC now owns 15,104 shares of the company’s stock valued at $1,205,000 after acquiring an additional 12,963 shares in the last quarter. Sei Investments Co. increased its stake in Axsome Therapeutics by 8.2% during the first quarter. Sei Investments Co. now owns 35,654 shares of the company’s stock worth $2,845,000 after purchasing an additional 2,697 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Axsome Therapeutics by 5,550.0% during the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after purchasing an additional 777 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Axsome Therapeutics by 9.0% during the first quarter. ProShare Advisors LLC now owns 9,724 shares of the company’s stock worth $776,000 after purchasing an additional 800 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.