Axsome Therapeutics (NASDAQ:AXSM) Price Target Increased to $112.00 by Analysts at Robert W. Baird

Axsome Therapeutics (NASDAQ:AXSM) had its target price raised by Robert W. Baird from $108.00 to $112.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Truist Financial reiterated a buy rating and set a $150.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, March 26th. Royal Bank of Canada boosted their price objective on Axsome Therapeutics from $123.00 to $128.00 and gave the company an outperform rating in a research note on Tuesday, March 26th. Cantor Fitzgerald restated an overweight rating and set a $107.00 target price on shares of Axsome Therapeutics in a research note on Wednesday, April 10th. Morgan Stanley raised shares of Axsome Therapeutics from an equal weight rating to an overweight rating and lifted their price target for the company from $90.00 to $115.00 in a report on Monday, April 29th. Finally, UBS Group initiated coverage on shares of Axsome Therapeutics in a research note on Tuesday, February 6th. They issued a buy rating and a $111.00 price objective for the company. One 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. According to data from MarketBeat.com, Axsome Therapeutics has an average rating of Moderate Buy and an average price target of $122.17.

Axsome Therapeutics Trading Up 1.3 %

Shares of NASDAQ AXSM opened at $76.94 on Tuesday. 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. The firm has a 50-day moving average of $74.14 and a 200 day moving average of $75.73. The stock has a market cap of $3.65 billion, a P/E ratio of -14.80 and a beta of 1.13.

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

Insiders Place Their Bets

In other news, COO Mark L. Jacobson sold 24,662 shares of the firm’s stock in a transaction dated 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 accessible through this hyperlink. In other news, COO Mark L. Jacobson sold 24,662 shares of the company’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 can be accessed through the SEC website. Also, Director Roger Jeffs sold 29,976 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the completion of the transaction, 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.

Institutional Trading of Axsome Therapeutics

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

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.