Brokerages Set Axsome Therapeutics, Inc. (NASDAQ:AXSM) Price Target at $167.64

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has earned an average recommendation of “Buy” from the fifteen analysts that are presently covering the stock, MarketBeat.com reports. Fifteen equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have covered the stock in the last year is $167.64.

AXSM has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $153.00 price target on shares of Axsome Therapeutics in a report on Wednesday, February 19th. Morgan Stanley raised their target price on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Bank of America upped their target price on Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Royal Bank of Canada upped their price target on shares of Axsome Therapeutics from $143.00 to $192.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th.

Insider Buying and Selling

In related news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the transaction, the chief financial officer now owns 42,187 shares in the company, valued at $5,529,450.09. The trade was a 6.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.40% of the stock is currently owned by company insiders.

Institutional Trading of Axsome Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in AXSM. Raiffeisen Bank International AG purchased a new stake in Axsome Therapeutics in the fourth quarter valued at approximately $51,000. Assetmark Inc. purchased a new position in Axsome Therapeutics in the 4th quarter valued at $52,000. R Squared Ltd acquired a new position in Axsome Therapeutics during the fourth quarter worth about $64,000. Aquatic Capital Management LLC acquired a new stake in Axsome Therapeutics in the 4th quarter valued at about $76,000. Finally, GF Fund Management CO. LTD. acquired a new position in Axsome Therapeutics during the fourth quarter worth $86,000. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Trading Down 8.4 %

AXSM opened at $98.86 on Monday. The stock has a market capitalization of $4.82 billion, a PE ratio of -16.50 and a beta of 0.88. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The firm has a 50-day moving average price of $120.62 and a two-hundred day moving average price of $101.67. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. The firm had revenue of $118.77 million for the quarter, compared to analysts’ expectations of $117.83 million. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. As a group, equities analysts anticipate that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

About Axsome Therapeutics

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.