Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $260.00 at HC Wainwright

Axsome Therapeutics (NASDAQ:AXSM) had its price objective lifted by HC Wainwright from $200.00 to $260.00 in a research report released on Tuesday morning, MarketBeat reports. The brokerage currently has a buy rating on the stock.

AXSM has been the subject of several other research reports. B. Riley began coverage on shares of Axsome Therapeutics in a report on Wednesday, October 1st. They set a “buy” rating and a $179.00 price target for the company. Cowen reiterated a “buy” rating on shares of Axsome Therapeutics in a research report on Wednesday, December 31st. Oppenheimer restated an “outperform” rating and issued a $220.00 target price on shares of Axsome Therapeutics in a research report on Wednesday, December 31st. Royal Bank Of Canada boosted their price objective on Axsome Therapeutics from $189.00 to $198.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Finally, Robert W. Baird set a $209.00 price objective on Axsome Therapeutics in a report on Tuesday, January 13th. Nineteen equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, Axsome Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $202.00.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $184.50 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. The business has a 50 day moving average of $156.51 and a two-hundred day moving average of $131.77. Axsome Therapeutics has a 52 week low of $86.99 and a 52 week high of $185.98. The company has a market cap of $9.30 billion, a P/E ratio of -39.51, a PEG ratio of 9.74 and a beta of 0.44.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). Axsome Therapeutics had a negative return on equity of 277.31% and a negative net margin of 40.90%.The company had revenue of $170.99 million for the quarter, compared to analyst estimates of $162.96 million. The company’s revenue for the quarter was up 63.2% on a year-over-year basis. As a group, analysts anticipate that Axsome Therapeutics will post -2.79 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Herriot Tabuteau sold 31,261 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $170.38, for a total value of $5,326,249.18. Following the completion of the sale, the chief executive officer owned 7,229 shares in the company, valued at $1,231,677.02. This represents a 81.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark E. Saad sold 37,577 shares of Axsome Therapeutics 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 transaction, the director directly owned 10,002 shares in the company, valued at approximately $1,652,130.36. The trade was a 78.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 420,903 shares of company stock worth $63,552,838 in the last three months. Company insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Axsome Therapeutics by 6.0% during the third quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock worth $507,739,000 after buying an additional 235,626 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Axsome Therapeutics by 84.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock worth $162,082,000 after acquiring an additional 609,516 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Axsome Therapeutics by 73.3% during the 3rd quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock worth $120,303,000 after acquiring an additional 419,008 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Axsome Therapeutics by 5.8% in the 2nd quarter. Geode Capital Management LLC now owns 989,453 shares of the company’s stock worth $103,303,000 after acquiring an additional 54,600 shares during the last quarter. Finally, State Street Corp raised its position in shares of Axsome Therapeutics by 5.8% during the second quarter. State Street Corp now owns 958,503 shares of the company’s stock worth $100,058,000 after purchasing an additional 52,483 shares during the period. 81.49% of the stock is owned by institutional investors and hedge funds.

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.