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

Axsome Therapeutics (NASDAQ:AXSM) had its price objective reduced by Citigroup from $127.00 to $125.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the company. HC Wainwright reiterated a buy rating and issued a $190.00 price target on shares of Axsome Therapeutics in a report on Tuesday. Piper Sandler increased their target price on shares of Axsome Therapeutics from $90.00 to $113.00 and gave the stock an overweight rating in a report on Tuesday, January 16th. Royal Bank of Canada raised their price target on shares of Axsome Therapeutics from $123.00 to $128.00 and gave the stock an outperform rating in a research report on Tuesday, March 26th. Mizuho boosted their price objective on shares of Axsome Therapeutics from $108.00 to $109.00 and gave the company a buy rating in a research report on Thursday, March 28th. Finally, UBS Group assumed coverage on shares of Axsome Therapeutics in a report on Tuesday, February 6th. They issued a buy rating and a $111.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $122.17.

Axsome Therapeutics Price Performance

Shares of AXSM stock opened at $76.94 on Tuesday. The firm has a fifty day moving average of $74.14 and a two-hundred day moving average of $75.73. The firm has a market cap of $3.65 billion, a P/E ratio of -14.80 and a beta of 1.13. Axsome Therapeutics has a 1-year low of $55.02 and a 1-year high of $98.40. 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 (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.48. The business had revenue of $71.53 million during the quarter, compared to the consensus estimate of $70.38 million. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. As a group, research analysts anticipate that Axsome Therapeutics will post -3.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 24,662 shares of the business’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Axsome Therapeutics news, COO Mark L. Jacobson sold 24,662 shares of the firm’s 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Roger Jeffs sold 29,976 shares of the company’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 completion of the sale, the director now directly owns 120,756 shares of the company’s stock, valued at $8,416,693.20. The disclosure for this sale can be found here. Corporate insiders own 24.50% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds have recently modified their holdings of the company. Perceptive Advisors LLC lifted its holdings in shares of Axsome Therapeutics by 115.5% in the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock valued at $82,616,000 after buying an additional 556,370 shares during the period. Eventide Asset Management LLC bought a new stake in Axsome Therapeutics in the third quarter worth about $24,232,000. Point72 Asset Management L.P. lifted its holdings in Axsome Therapeutics by 57.4% in the 4th quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock valued at $66,633,000 after acquiring an additional 305,264 shares during the last quarter. First Turn Management LLC bought a new position in shares of Axsome Therapeutics during the 4th quarter valued at about $23,513,000. Finally, RTW Investments LP boosted its position in shares of Axsome Therapeutics by 4.8% during the 3rd quarter. RTW Investments LP now owns 4,489,596 shares of the company’s stock valued at $313,778,000 after purchasing an additional 205,319 shares in the last quarter. 81.49% of the stock is currently 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.