Axsome Therapeutics (NASDAQ:AXSM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Axsome Therapeutics (NASDAQ:AXSM) had its price target raised by analysts at Wells Fargo & Company from $140.00 to $160.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 21.03% from the stock’s current price.

AXSM has been the subject of a number of other reports. Truist Financial boosted their price objective on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $139.00 price target on shares of Axsome Therapeutics in a report on Wednesday, January 29th. William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a report on Friday, January 24th. Bank of America upped their price target on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $121.00 price target on shares of Axsome Therapeutics in a report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $147.13.

Axsome Therapeutics Trading Up 4.0 %

Shares of AXSM opened at $132.20 on Wednesday. The firm has a market cap of $6.41 billion, a price-to-earnings ratio of -20.25 and a beta of 1.05. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $134.19. The firm has a 50 day moving average price of $95.28 and a 200-day moving average price of $92.07.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. The firm had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same period in the previous year, the business posted ($1.32) EPS. As a group, equities research analysts forecast that Axsome Therapeutics will post -4.7 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AXSM. Assetmark Inc. purchased a new stake in shares of Axsome Therapeutics in the 4th quarter worth about $52,000. R Squared Ltd purchased a new stake in shares of Axsome Therapeutics in the 4th quarter worth about $64,000. KBC Group NV grew its position in shares of Axsome Therapeutics by 40.5% in the 4th quarter. KBC Group NV now owns 1,336 shares of the company’s stock worth $113,000 after buying an additional 385 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Axsome Therapeutics by 22.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after buying an additional 318 shares during the period. Finally, Moors & Cabot Inc. purchased a new stake in shares of Axsome Therapeutics in the 3rd quarter worth about $200,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

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.