Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $216.00

Axsome Therapeutics (NASDAQ:AXSM) had its target price raised by Mizuho from $212.00 to $216.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other analysts have also issued reports about the company. Royal Bank of Canada lifted their price objective on Axsome Therapeutics from $143.00 to $192.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a research report on Tuesday, February 18th. Robert W. Baird boosted their price target on shares of Axsome Therapeutics from $132.00 to $160.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Bank of America raised their price objective on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Axsome Therapeutics in a report on Tuesday, February 11th. They set a “buy” rating and a $176.00 target price for the company. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $167.64.

Axsome Therapeutics Price Performance

Shares of AXSM stock opened at $118.53 on Thursday. Axsome Therapeutics has a 1 year low of $64.11 and a 1 year high of $139.13. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The firm’s 50 day moving average is $119.67 and its 200-day moving average is $101.15. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of -19.79 and a beta of 1.00.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data 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. The firm had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. Sell-side analysts forecast that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Activity

In other news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 42,187 shares of the company’s stock, valued at $5,529,450.09. This represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pitcairn Co. raised its stake in shares of Axsome Therapeutics by 3.4% in the 4th quarter. Pitcairn Co. now owns 4,562 shares of the company’s stock valued at $386,000 after purchasing an additional 148 shares during the period. Meridian Wealth Management LLC raised its position in Axsome Therapeutics by 0.7% in the 4th quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company’s stock valued at $1,791,000 after buying an additional 150 shares during the last quarter. Summit Investment Advisors Inc. raised its position in Axsome Therapeutics by 4.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company’s stock valued at $326,000 after buying an additional 162 shares during the last quarter. Arizona State Retirement System lifted its stake in Axsome Therapeutics by 1.8% in the 4th quarter. Arizona State Retirement System now owns 9,054 shares of the company’s stock valued at $766,000 after acquiring an additional 164 shares in the last quarter. Finally, Intrust Bank NA boosted its position in Axsome Therapeutics by 6.9% during the 4th quarter. Intrust Bank NA now owns 2,823 shares of the company’s stock worth $239,000 after acquiring an additional 183 shares during the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

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.