Axsome Therapeutics (NASDAQ:AXSM) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Axsome Therapeutics (NASDAQ:AXSM) had its price objective increased by analysts at Royal Bank Of Canada from $184.00 to $189.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 83.03% from the stock’s current price.

A number of other analysts have also recently commented on the stock. Morgan Stanley started coverage on shares of Axsome Therapeutics in a research report on Thursday, July 3rd. They set an “overweight” rating and a $190.00 price target on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and set a $165.00 target price (up previously from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. Jefferies Financial Group started coverage on Axsome Therapeutics in a research note on Monday, April 7th. They issued a “buy” rating and a $200.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, June 10th. Finally, Oppenheimer started coverage on shares of Axsome Therapeutics in a research report on Tuesday, June 3rd. They set an “outperform” rating and a $185.00 target price on the stock. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Axsome Therapeutics presently has an average rating of “Buy” and a consensus price target of $178.00.

Axsome Therapeutics Trading Down 0.3%

NASDAQ AXSM opened at $103.26 on Tuesday. Axsome Therapeutics has a 12 month low of $75.56 and a 12 month high of $139.13. The company has a current ratio of 1.57, a quick ratio of 1.96 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $5.08 billion, a PE ratio of -20.37 and a beta of 0.51. The business’s 50-day moving average price is $105.87 and its two-hundred day moving average price is $110.65.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, August 4th. The company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.08. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. The firm had revenue of $150.04 million during the quarter, compared to analyst estimates of $140.02 million. On average, analysts expect that Axsome Therapeutics will post -2.79 EPS for the current year.

Insider Activity at Axsome Therapeutics

In other news, General Counsel Hunter R. Murdock sold 7,500 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $100.26, for a total value of $751,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Mark L. Jacobson sold 25,000 shares of Axsome Therapeutics stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the transaction, the chief operating officer directly owned 5,783 shares in the company, valued at approximately $638,674.52. This represents a 81.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,437 shares of company stock valued at $9,834,215 over the last 90 days. Insiders own 22.30% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Several institutional investors have recently bought and sold shares of the company. BVF Inc. IL grew its position in shares of Axsome Therapeutics by 21.8% in the first quarter. BVF Inc. IL now owns 1,690,221 shares of the company’s stock valued at $197,130,000 after purchasing an additional 302,157 shares in the last quarter. Geode Capital Management LLC lifted its stake in Axsome Therapeutics by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 912,538 shares of the company’s stock worth $77,228,000 after purchasing an additional 4,079 shares in the last quarter. Invesco Ltd. grew its position in shares of Axsome Therapeutics by 23.8% during the 1st quarter. Invesco Ltd. now owns 857,001 shares of the company’s stock valued at $99,952,000 after purchasing an additional 164,537 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Axsome Therapeutics by 4.5% in the first quarter. Wellington Management Group LLP now owns 703,279 shares of the company’s stock worth $82,023,000 after purchasing an additional 30,122 shares during the period. Finally, Hood River Capital Management LLC raised its position in shares of Axsome Therapeutics by 3.2% in the fourth quarter. Hood River Capital Management LLC now owns 644,785 shares of the company’s stock worth $54,555,000 after buying an additional 19,701 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.