Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $202.00

Axsome Therapeutics (NASDAQ:AXSM) had its target price lifted by Mizuho from $200.00 to $202.00 in a research note released on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Wednesday, October 8th. Royal Bank Of Canada lifted their price target on Axsome Therapeutics from $189.00 to $198.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Wells Fargo & Company cut their price objective on Axsome Therapeutics from $163.00 to $157.00 and set an “overweight” rating for the company in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $154.00 target price on shares of Axsome Therapeutics in a report on Tuesday, November 4th. Finally, Bank of America boosted their target price on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $179.88.

Axsome Therapeutics Trading Down 0.9%

Shares of AXSM stock opened at $138.15 on Thursday. The company has a market capitalization of $6.89 billion, a P/E ratio of -27.25 and a beta of 0.50. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 1.66. The business’s 50 day moving average is $124.71 and its two-hundred day moving average is $113.68. Axsome Therapeutics has a twelve month low of $75.56 and a twelve month high of $141.36.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.12). Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. The firm had revenue of $170.99 million during the quarter, compared to analyst estimates of $162.96 million. Axsome Therapeutics’s quarterly revenue was up 63.2% on a year-over-year basis. Equities analysts forecast that Axsome Therapeutics will post -2.79 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Herriot Tabuteau sold 21,775 shares of Axsome Therapeutics stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $134.49, for a total transaction of $2,928,519.75. Following the completion of the transaction, the chief executive officer owned 7,229 shares of the company’s stock, valued at $972,228.21. The trade was a 75.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Mark L. Jacobson sold 10,000 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $115.96, for a total transaction of $1,159,600.00. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 407,271 shares of company stock worth $50,640,415. 22.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Axsome Therapeutics in the first quarter valued at about $25,000. Versant Capital Management Inc increased its stake in shares of Axsome Therapeutics by 20,300.0% during the 3rd quarter. Versant Capital Management Inc now owns 204 shares of the company’s stock worth $25,000 after purchasing an additional 203 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Axsome Therapeutics during the 1st quarter worth approximately $31,000. First Horizon Corp acquired a new position in shares of Axsome Therapeutics during the 3rd quarter worth approximately $34,000. Finally, AlphaQuest LLC purchased a new stake in Axsome Therapeutics in the 1st quarter valued at approximately $38,000. Institutional investors and hedge funds 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.