Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $245.00 at Guggenheim

Axsome Therapeutics (NASDAQ:AXSM) had its price objective raised by Guggenheim from $220.00 to $245.00 in a research note published on Wednesday,Benzinga reports. Guggenheim currently has a buy rating on the stock.

AXSM has been the subject of several other reports. Royal Bank Of Canada raised their target price on Axsome Therapeutics from $219.00 to $222.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Morgan Stanley set a $207.00 price target on Axsome Therapeutics in a research report on Tuesday, February 24th. Needham & Company LLC reissued a “buy” rating and issued a $225.00 price target on shares of Axsome Therapeutics in a research note on Monday, February 23rd. Piper Sandler raised their price objective on Axsome Therapeutics from $148.00 to $223.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Wednesday, January 21st. Seventeen equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $217.59.

Axsome Therapeutics Trading Up 1.9%

AXSM opened at $161.78 on Wednesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.55 and a quick ratio of 1.48. Axsome Therapeutics has a fifty-two week low of $86.99 and a fifty-two week high of $191.50. The company’s 50 day moving average price is $173.75 and its two-hundred day moving average price is $151.72. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of -43.84 and a beta of 0.43.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, February 23rd. The company reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.70) by $0.14. The firm had revenue of $196.00 million during the quarter, compared to the consensus estimate of $191.33 million. Axsome Therapeutics had a negative net margin of 28.69% and a negative return on equity of 232.61%. The business’s revenue was up 65.0% compared to the same quarter last year. As a group, research analysts predict that Axsome Therapeutics will post -2.79 earnings per share for the current year.

Insiders Place Their Bets

In other Axsome Therapeutics news, CFO Nick Pizzie sold 12,000 shares of the company’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $187.92, for a total transaction of $2,255,040.00. Following the sale, the chief financial officer owned 42,588 shares of the company’s stock, valued at approximately $8,003,136.96. This represents a 21.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark E. Saad sold 37,577 shares of the stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $165.18, for a total value of $6,206,968.86. Following the sale, the director owned 10,002 shares of the company’s stock, valued at approximately $1,652,130.36. The trade was a 78.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 289,279 shares of company stock valued at $49,496,963 over the last quarter. Company insiders own 22.30% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. lifted its stake in Axsome Therapeutics by 29.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 7,453 shares of the company’s stock valued at $1,361,000 after buying an additional 1,716 shares during the period. SHP Wealth Management acquired a new stake in shares of Axsome Therapeutics during the 4th quarter worth approximately $172,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Axsome Therapeutics during the 4th quarter worth approximately $76,000. Seven Fleet Capital Management LP bought a new stake in shares of Axsome Therapeutics in the 4th quarter valued at $2,366,000. Finally, Virtu Financial LLC bought a new stake in shares of Axsome Therapeutics in the 4th quarter valued at $2,844,000. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.