Axsome Therapeutics (NASDAQ:AXSM) Given New $167.00 Price Target at Bank of America

Axsome Therapeutics (NASDAQ:AXSM) had its price objective boosted by Bank of America from $143.00 to $167.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on AXSM. Cantor Fitzgerald reissued an “overweight” rating and set a $121.00 target price on shares of Axsome Therapeutics in a research report on Thursday, December 12th. HC Wainwright reissued a “buy” rating and set a $190.00 price objective on shares of Axsome Therapeutics in a report on Tuesday. Robert W. Baird upped their target price on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Mizuho boosted their price target on shares of Axsome Therapeutics from $137.00 to $195.00 and gave the company an “outperform” rating in a report on Tuesday. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.80.

Axsome Therapeutics Stock Performance

AXSM opened at $132.20 on Tuesday. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $134.19. The firm has a market capitalization of $6.41 billion, a P/E ratio of -20.25 and a beta of 1.05. The stock’s 50 day moving average price is $95.28 and its two-hundred day moving average price is $92.07. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results 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 firm had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. During the same period in the prior year, the firm earned ($1.32) EPS. On average, equities analysts forecast that Axsome Therapeutics will post -4.7 earnings per share for the current year.

Institutional Investors Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of AXSM. Creative Planning grew its holdings in Axsome Therapeutics by 29.8% during the 3rd quarter. Creative Planning now owns 10,854 shares of the company’s stock worth $975,000 after acquiring an additional 2,489 shares during the last quarter. Values First Advisors Inc. bought a new stake in shares of Axsome Therapeutics during the third quarter valued at approximately $568,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Axsome Therapeutics by 22.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after acquiring an additional 318 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Axsome Therapeutics by 4.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,808 shares of the company’s stock worth $1,780,000 after purchasing an additional 754 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Axsome Therapeutics by 65.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,232 shares of the company’s stock worth $830,000 after purchasing an additional 3,652 shares during the last quarter. 81.49% of the stock is 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.