HC Wainwright Boosts Axsome Therapeutics (NASDAQ:AXSM) Price Target to $190.00

Axsome Therapeutics (NASDAQ:AXSM) had its target price raised by HC Wainwright from $180.00 to $190.00 in a research report sent to investors on Tuesday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Axsome Therapeutics’ Q2 2024 earnings at ($1.08) EPS, Q3 2024 earnings at ($0.99) EPS, Q4 2024 earnings at ($0.91) EPS, FY2024 earnings at ($4.30) EPS, Q1 2025 earnings at ($0.82) EPS, Q2 2025 earnings at ($0.03) EPS, Q3 2025 earnings at $0.51 EPS, Q4 2025 earnings at $1.39 EPS and FY2025 earnings at $1.07 EPS.

AXSM has been the topic of several other reports. UBS Group began coverage on shares of Axsome Therapeutics in a report on Tuesday, February 6th. They issued a buy rating and a $111.00 price objective on the stock. Mizuho decreased their target price on shares of Axsome Therapeutics from $112.00 to $108.00 and set a buy rating for the company in a research report on Tuesday, February 27th. Citigroup lifted their price objective on shares of Axsome Therapeutics from $125.00 to $127.00 and gave the company a buy rating in a research report on Tuesday. Guggenheim lifted their price objective on shares of Axsome Therapeutics from $110.00 to $125.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. Finally, Robert W. Baird started coverage on shares of Axsome Therapeutics in a report on Tuesday, March 19th. They set an outperform rating and a $108.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $119.75.

Axsome Therapeutics Price Performance

Shares of Axsome Therapeutics stock opened at $79.80 on Tuesday. Axsome Therapeutics has a 1-year low of $55.02 and a 1-year high of $98.40. The firm’s 50-day moving average price is $84.01 and its two-hundred day moving average price is $75.32. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of -15.35 and a beta of 1.17. The company has a current ratio of 3.63, a quick ratio of 3.52 and a debt-to-equity ratio of 0.93.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Tuesday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.48. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. The company had revenue of $71.53 million for the quarter, compared to analyst estimates of $70.38 million. On average, equities analysts predict that Axsome Therapeutics will post -3.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Roger Jeffs sold 29,976 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total value of $2,089,327.20. Following the completion of the sale, the director now owns 120,756 shares in the company, valued at approximately $8,416,693.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 24.50% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in Axsome Therapeutics by 0.5% in the first quarter. JPMorgan Chase & Co. now owns 176,086 shares of the company’s stock valued at $7,288,000 after purchasing an additional 843 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Axsome Therapeutics in the first quarter valued at $732,000. MetLife Investment Management LLC lifted its position in Axsome Therapeutics by 59.0% during the first quarter. MetLife Investment Management LLC now owns 17,348 shares of the company’s stock valued at $718,000 after buying an additional 6,439 shares during the period. Panagora Asset Management Inc. purchased a new position in Axsome Therapeutics during the first quarter valued at $526,000. Finally, Sei Investments Co. raised its position in shares of Axsome Therapeutics by 1.3% in the 1st quarter. Sei Investments Co. now owns 146,363 shares of the company’s stock worth $6,059,000 after purchasing an additional 1,909 shares during the last quarter. 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.