Citigroup Lowers Axsome Therapeutics (NASDAQ:AXSM) Price Target to $125.00

Axsome Therapeutics (NASDAQ:AXSM) had its price target dropped by equities researchers at Citigroup from $127.00 to $125.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 65.17% from the company’s previous close.

AXSM has been the subject of several other research reports. UBS Group assumed coverage on shares of Axsome Therapeutics in a research note on Tuesday, February 6th. They issued a “buy” rating and a $111.00 price objective for the company. Morgan Stanley upgraded shares of Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $90.00 to $115.00 in a research note on Monday, April 29th. HC Wainwright reiterated a “buy” rating and issued a $190.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday. Robert W. Baird lifted their target price on shares of Axsome Therapeutics from $108.00 to $112.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Piper Sandler lifted their target price on shares of Axsome Therapeutics from $90.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Axsome Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $121.92.

Axsome Therapeutics Stock Down 1.6 %

Shares of NASDAQ:AXSM opened at $75.68 on Tuesday. The company has a quick ratio of 3.52, a current ratio of 3.63 and a debt-to-equity ratio of 0.93. Axsome Therapeutics has a fifty-two week low of $55.02 and a fifty-two week high of $98.40. The firm’s 50-day simple moving average is $73.99 and its 200-day simple moving average is $75.73. The company has a market cap of $3.59 billion, a price-to-earnings ratio of -14.55 and a beta of 1.13.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($1.21) by $0.48. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. The firm had revenue of $71.53 million during the quarter, compared to analysts’ expectations of $70.38 million. As a group, equities research analysts predict that Axsome Therapeutics will post -3.75 earnings per share for the current year.

Insider Transactions at Axsome Therapeutics

In other news, COO Mark L. Jacobson sold 24,662 shares of Axsome Therapeutics stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $77.24, for a total transaction of $1,904,892.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Mark L. Jacobson sold 24,662 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roger Jeffs sold 29,976 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the completion of the sale, the director now owns 120,756 shares of the company’s stock, valued at $8,416,693.20. The disclosure for this sale can be found here. Insiders own 24.50% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors have recently bought and sold shares of AXSM. Washington Trust Advisors Inc. purchased a new stake in Axsome Therapeutics in the fourth quarter valued at approximately $26,000. Fifth Third Bancorp grew its holdings in Axsome Therapeutics by 100.0% in the third quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Russell Investments Group Ltd. grew its holdings in Axsome Therapeutics by 5,550.0% in the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after purchasing an additional 777 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in Axsome Therapeutics by 110.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,204 shares of the company’s stock worth $84,000 after buying an additional 633 shares during the period. Finally, Janiczek Wealth Management LLC purchased a new stake in Axsome Therapeutics during the first quarter worth approximately $97,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

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.