Axsome Therapeutics (NASDAQ:AXSM) Stock Price Expected to Rise, HC Wainwright Analyst Says

Axsome Therapeutics (NASDAQ:AXSM) had its price objective upped by research analysts at HC Wainwright from $180.00 to $190.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 78.47% from the stock’s previous close.

A number of other brokerages also recently issued reports on AXSM. Truist Financial raised their price target on shares of Axsome Therapeutics from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Needham & Company LLC restated a “buy” rating and issued a $133.00 target price on shares of Axsome Therapeutics in a research report on Monday, January 13th. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Robert W. Baird raised their price objective on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $121.00 target price on shares of Axsome Therapeutics in a research report on Thursday, December 12th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.08.

Axsome Therapeutics Price Performance

NASDAQ:AXSM opened at $106.46 on Friday. Axsome Therapeutics has a one year low of $64.11 and a one year high of $111.51. The stock has a market cap of $5.16 billion, a PE ratio of -16.30 and a beta of 1.04. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The stock has a 50 day moving average price of $93.57 and a 200 day moving average price of $90.85.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The business had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. During the same period last year, the company earned ($1.32) EPS. Equities research analysts expect that Axsome Therapeutics will post -4.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Axsome Therapeutics

Large investors have recently bought and sold shares of the stock. FMR LLC grew its position in shares of Axsome Therapeutics by 20.6% during the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after buying an additional 185,951 shares in the last quarter. Geode Capital Management LLC grew its holdings in Axsome Therapeutics by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 908,459 shares of the company’s stock worth $81,659,000 after acquiring an additional 23,564 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Axsome Therapeutics by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock valued at $66,750,000 after purchasing an additional 8,125 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Axsome Therapeutics by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 322,596 shares of the company’s stock worth $28,992,000 after purchasing an additional 12,778 shares during the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in shares of Axsome Therapeutics by 11.0% during the third quarter. Loomis Sayles & Co. L P now owns 298,586 shares of the company’s stock worth $26,834,000 after purchasing an additional 29,497 shares in the last quarter. Hedge funds and other institutional investors 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.