Axsome Therapeutics (NASDAQ:AXSM) Stock Price Expected to Rise, UBS Group Analyst Says

Axsome Therapeutics (NASDAQ:AXSM) had its price objective upped by UBS Group from $251.00 to $259.00 in a report issued on Friday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 45.42% from the stock’s previous close.

A number of other research firms have also recently weighed in on AXSM. Leerink Partners upped their price target on Axsome Therapeutics from $150.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 price target on shares of Axsome Therapeutics in a report on Monday, February 23rd. Truist Financial raised Axsome Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Jefferies Financial Group set a $215.00 price target on Axsome Therapeutics in a report on Monday, February 23rd. Finally, HC Wainwright upped their price target on Axsome Therapeutics from $200.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Axsome Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $218.06.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $178.11 on Friday. The stock has a market cap of $9.11 billion, a PE ratio of -48.27 and a beta of 0.48. The business has a 50-day simple moving average of $170.25 and a 200-day simple moving average of $155.85. The company has a quick ratio of 1.48, a current ratio of 1.55 and a debt-to-equity ratio of 1.38. Axsome Therapeutics has a 52-week low of $93.95 and a 52-week high of $191.50.

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

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark Coleman sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $161.11, for a total transaction of $4,027,750.00. Following the completion of the transaction, the director owned 47,140 shares of the company’s stock, valued at $7,594,725.40. This represents a 34.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mark L. Jacobson sold 35,378 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $161.88, for a total value of $5,726,990.64. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 112,288 shares of company stock valued at $19,408,377. 22.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Axsome Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Axsome Therapeutics by 6.0% during the third quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock valued at $507,739,000 after acquiring an additional 235,626 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Axsome Therapeutics by 45.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock valued at $275,763,000 after acquiring an additional 472,422 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Axsome Therapeutics by 84.1% during the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after acquiring an additional 609,516 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Axsome Therapeutics by 28.6% during the fourth quarter. Invesco Ltd. now owns 1,273,494 shares of the company’s stock valued at $232,591,000 after acquiring an additional 282,937 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Axsome Therapeutics by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company’s stock valued at $184,544,000 after acquiring an additional 12,549 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

About Axsome Therapeutics

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.