Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $205.00 at Leerink Partners

Axsome Therapeutics (NASDAQ:AXSM) had its price objective increased by Leerink Partners from $150.00 to $205.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts also recently commented on AXSM. Piper Sandler lifted their price objective on Axsome Therapeutics from $148.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Guggenheim reaffirmed a “buy” rating and issued a $205.00 price target on shares of Axsome Therapeutics in a research note on Friday, January 2nd. B. Riley began coverage on Axsome Therapeutics in a research report on Wednesday, October 1st. They issued a “buy” rating and a $179.00 price objective for the company. Morgan Stanley lowered Axsome Therapeutics from an “overweight” rating to a “reduce” rating in a research note on Thursday, January 8th. Finally, Robert W. Baird set a $209.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, January 13th. Nineteen analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $206.22.

Axsome Therapeutics Trading Down 1.5%

AXSM stock opened at $185.17 on Wednesday. The company has a market capitalization of $9.33 billion, a PE ratio of -39.65, a price-to-earnings-growth ratio of 9.91 and a beta of 0.44. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.50 and a current ratio of 1.57. Axsome Therapeutics has a one year low of $86.99 and a one year high of $191.50. The company’s 50 day moving average price is $161.75 and its two-hundred day moving average price is $134.85.

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

Insider Activity at Axsome Therapeutics

In related news, Director Mark E. Saad sold 37,577 shares of the firm’s stock in a transaction on 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 completion of the sale, the director owned 10,002 shares of the company’s stock, valued at $1,652,130.36. This trade represents a 78.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Nick Pizzie sold 12,000 shares of the business’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 transaction, the chief financial officer directly owned 42,588 shares in the company, valued at approximately $8,003,136.96. The trade was a 21.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 440,403 shares of company stock worth $67,191,178 over the last quarter. 22.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Axsome Therapeutics

A number of institutional investors have recently bought and sold shares of AXSM. HB Wealth Management LLC boosted its position in Axsome Therapeutics by 136.7% during the 4th quarter. HB Wealth Management LLC now owns 34,102 shares of the company’s stock valued at $6,228,000 after acquiring an additional 19,696 shares in the last quarter. M&T Bank Corp boosted its position in shares of Axsome Therapeutics by 2,553.8% during the fourth quarter. M&T Bank Corp now owns 49,466 shares of the company’s stock valued at $8,277,000 after purchasing an additional 47,602 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Axsome Therapeutics by 1.4% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 68,858 shares of the company’s stock valued at $12,576,000 after purchasing an additional 956 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Axsome Therapeutics by 6.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,464 shares of the company’s stock worth $1,363,000 after purchasing an additional 475 shares during the period. Finally, First Horizon Corp raised its holdings in Axsome Therapeutics by 117.8% in the fourth quarter. First Horizon Corp now owns 601 shares of the company’s stock worth $110,000 after purchasing an additional 325 shares in the last quarter. 81.49% of the stock is 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.