Robert W. Baird Raises Axsome Therapeutics (NASDAQ:AXSM) Price Target to $112.00

Axsome Therapeutics (NASDAQ:AXSM) had its target price raised by Robert W. Baird from $108.00 to $112.00 in a report published on Tuesday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other brokerages also recently weighed in on AXSM. Mizuho upped their target price on shares of Axsome Therapeutics from $108.00 to $109.00 and gave the company a buy rating in a research note on Thursday, March 28th. Morgan Stanley upgraded shares of Axsome Therapeutics from an equal weight rating to an overweight rating and lifted their price target for the stock from $90.00 to $115.00 in a research note on Monday, April 29th. Piper Sandler increased their price target 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. UBS Group began coverage on Axsome Therapeutics in a research note on Tuesday, February 6th. They set a buy rating and a $111.00 price objective on the stock. Finally, Cantor Fitzgerald restated an overweight rating and set a $107.00 price objective on shares of Axsome Therapeutics in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Axsome Therapeutics currently has an average rating of Moderate Buy and an average target price of $121.92.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $73.68 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.63 and a quick ratio of 3.52. Axsome Therapeutics has a 1-year low of $55.02 and a 1-year high of $98.40. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of -11.55 and a beta of 1.13. The business has a 50-day moving average of $73.84 and a 200-day moving average of $75.72.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($1.21) by $0.48. The firm had revenue of $71.53 million for the quarter, compared to analyst estimates of $70.38 million. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. On average, equities analysts anticipate that Axsome Therapeutics will post -3.75 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

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 stock was sold at an average price of $77.24, for a total transaction of $1,904,892.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, COO Mark L. Jacobson sold 24,662 shares of Axsome Therapeutics 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Roger Jeffs sold 29,976 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following 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. Company insiders own 24.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AXSM. Commonwealth Equity Services LLC increased its holdings in shares of Axsome Therapeutics by 30.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 6,741 shares of the company’s stock valued at $471,000 after purchasing an additional 1,558 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of Axsome Therapeutics by 1.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 18,734 shares of the company’s stock worth $1,309,000 after purchasing an additional 197 shares in the last quarter. Bank of New York Mellon Corp raised its position in Axsome Therapeutics by 4.3% during the third quarter. Bank of New York Mellon Corp now owns 168,006 shares of the company’s stock valued at $11,742,000 after acquiring an additional 6,920 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Axsome Therapeutics by 12.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,724 shares of the company’s stock valued at $540,000 after purchasing an additional 872 shares in the last quarter. Finally, Strs Ohio lifted its stake in shares of Axsome Therapeutics by 28.4% in the 3rd quarter. Strs Ohio now owns 9,500 shares of the company’s stock valued at $663,000 after purchasing an additional 2,100 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.