Axsome Therapeutics (NASDAQ:AXSM) Given New $189.00 Price Target at Royal Bank Of Canada

Axsome Therapeutics (NASDAQ:AXSM) had its price objective boosted by Royal Bank Of Canada from $184.00 to $189.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also recently issued reports on AXSM. HC Wainwright reissued a “buy” rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Needham & Company LLC reissued a “buy” rating and set a $150.00 price target on shares of Axsome Therapeutics in a report on Monday. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $165.00 price objective (up previously from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. Morgan Stanley started coverage on Axsome Therapeutics in a research note on Thursday, July 3rd. They set an “overweight” rating and a $190.00 target price on the stock. Finally, Cantor Fitzgerald upgraded Axsome Therapeutics to a “strong-buy” rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $173.13.

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock opened at $103.59 on Tuesday. Axsome Therapeutics has a twelve month low of $75.56 and a twelve month high of $139.13. The company has a quick ratio of 1.96, a current ratio of 2.03 and a debt-to-equity ratio of 3.48. The company has a market capitalization of $5.10 billion, a P/E ratio of -20.43 and a beta of 0.51. The stock’s 50 day moving average is $105.86 and its 200 day moving average is $110.70.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Monday, August 4th. The company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.08. The firm had revenue of $150.04 million for the quarter, compared to the consensus estimate of $140.02 million. Axsome Therapeutics had a negative return on equity of 288.83% and a negative net margin of 49.88%. On average, equities research analysts predict that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Transactions at Axsome Therapeutics

In other news, COO Mark L. Jacobson sold 25,000 shares of Axsome Therapeutics stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the completion of the sale, the chief operating officer directly owned 5,783 shares in the company, valued at $638,674.52. The trade was a 81.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark Coleman sold 3,750 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total value of $395,512.50. Following the sale, the director owned 50,387 shares in the company, valued at $5,314,316.89. This trade represents a 6.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,437 shares of company stock valued at $9,834,215 over the last three months. 22.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. American Century Companies Inc. acquired a new stake in Axsome Therapeutics in the fourth quarter worth about $570,000. LPL Financial LLC increased its stake in Axsome Therapeutics by 47.9% in the 4th quarter. LPL Financial LLC now owns 24,209 shares of the company’s stock valued at $2,048,000 after buying an additional 7,837 shares during the period. Pictet Asset Management Holding SA increased its position in Axsome Therapeutics by 19.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 4,678 shares of the company’s stock worth $396,000 after purchasing an additional 761 shares during the last quarter. Franklin Resources Inc. grew its position in Axsome Therapeutics by 13.6% in the fourth quarter. Franklin Resources Inc. now owns 182,290 shares of the company’s stock worth $15,424,000 after acquiring an additional 21,756 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Axsome Therapeutics by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 912,538 shares of the company’s stock worth $77,228,000 after acquiring an additional 4,079 shares in the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

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.