Truist Financial restated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM – Free Report) in a report issued on Tuesday, Benzinga reports. Truist Financial currently has a $150.00 price objective on the stock.
Other research analysts have also issued reports about the company. Guggenheim raised their price target on Axsome Therapeutics from $110.00 to $125.00 and gave the stock a buy rating in a research report on Wednesday, February 21st. Robert W. Baird initiated coverage on Axsome Therapeutics in a research note on Tuesday, March 19th. They set an outperform rating and a $108.00 price objective on the stock. Citigroup raised their price objective on Axsome Therapeutics from $125.00 to $127.00 and gave the stock a buy rating in a research note on Tuesday. UBS Group initiated coverage on Axsome Therapeutics in a research note on Tuesday, February 6th. They set a buy rating and a $111.00 price objective on the stock. Finally, HC Wainwright raised their price objective on Axsome Therapeutics from $180.00 to $190.00 and gave the stock a buy rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $119.75.
Check Out Our Latest Research Report on Axsome Therapeutics
Axsome Therapeutics Stock Up 0.8 %
Axsome Therapeutics (NASDAQ:AXSM – Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.21) by $0.48. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. The business had revenue of $71.53 million for the quarter, compared to analyst estimates of $70.38 million. Equities research analysts expect that Axsome Therapeutics will post -3.71 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the completion of the transaction, the director now owns 120,756 shares in the company, valued at $8,416,693.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 24.50% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Axsome Therapeutics
A number of institutional investors have recently made changes to their positions in the company. RTW Investments LP boosted its holdings in shares of Axsome Therapeutics by 4.8% during the third quarter. RTW Investments LP now owns 4,489,596 shares of the company’s stock worth $313,778,000 after acquiring an additional 205,319 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Axsome Therapeutics by 11.0% during the third quarter. Vanguard Group Inc. now owns 3,111,500 shares of the company’s stock worth $138,835,000 after acquiring an additional 309,362 shares during the period. BlackRock Inc. boosted its holdings in shares of Axsome Therapeutics by 10.3% during the second quarter. BlackRock Inc. now owns 2,723,543 shares of the company’s stock worth $195,714,000 after acquiring an additional 255,319 shares during the period. Perceptive Advisors LLC boosted its holdings in shares of Axsome Therapeutics by 115.5% during the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock worth $82,616,000 after acquiring an additional 556,370 shares during the period. Finally, RA Capital Management L.P. acquired a new stake in shares of Axsome Therapeutics in the second quarter valued at approximately $71,860,000. Institutional investors own 81.49% of the company’s stock.
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.
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