Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $198.00

Axsome Therapeutics (NASDAQ:AXSM) had its price objective upped by Royal Bank Of Canada from $189.00 to $198.00 in a research note published on Tuesday, MarketBeat reports. They currently have an outperform rating on the stock.

AXSM has been the topic of several other research reports. Morgan Stanley lifted their target price on shares of Axsome Therapeutics from $191.00 to $194.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Wednesday, October 8th. B. Riley began coverage on Axsome Therapeutics in a research note on Wednesday, October 1st. They issued a “buy” rating and a $179.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $154.00 target price on shares of Axsome Therapeutics in a research note on Tuesday. Finally, Wells Fargo & Company lowered their target price on Axsome Therapeutics from $163.00 to $157.00 and set an “overweight” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $179.88.

Axsome Therapeutics Price Performance

NASDAQ AXSM opened at $139.41 on Tuesday. Axsome Therapeutics has a fifty-two week low of $75.56 and a fifty-two week high of $141.36. The stock’s 50-day moving average is $124.37 and its two-hundred day moving average is $113.37. The firm has a market cap of $6.96 billion, a P/E ratio of -27.50 and a beta of 0.50. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.51.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, November 3rd. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. The company had revenue of $170.99 million for the quarter, compared to analyst estimates of $162.96 million. Axsome Therapeutics’s revenue for the quarter was up 63.2% on a year-over-year basis. On average, analysts anticipate that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 45,783 shares of the business’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $114.48, for a total value of $5,241,237.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Herriot Tabuteau sold 91,705 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $132.34, for a total transaction of $12,136,239.70. Following the sale, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at approximately $956,685.86. The trade was a 92.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 407,271 shares of company stock valued at $50,640,415. Corporate insiders own 22.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AXSM. Principal Financial Group Inc. grew its stake in shares of Axsome Therapeutics by 42.8% during the first quarter. Principal Financial Group Inc. now owns 295,671 shares of the company’s stock valued at $34,484,000 after purchasing an additional 88,606 shares during the last quarter. Penserra Capital Management LLC bought a new position in Axsome Therapeutics in the 1st quarter worth approximately $2,229,000. Trek Financial LLC acquired a new position in Axsome Therapeutics during the 1st quarter worth $3,446,000. Edgestream Partners L.P. bought a new position in Axsome Therapeutics in the 1st quarter valued at $8,174,000. Finally, Jump Financial LLC bought a new position in Axsome Therapeutics in the 1st quarter valued at $10,805,000. 81.49% of the stock is owned by institutional investors and hedge funds.

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.