Guggenheim Forecasts Strong Price Appreciation for Axsome Therapeutics (NASDAQ:AXSM) Stock

Axsome Therapeutics (NASDAQ:AXSM) had its target price upped by investment analysts at Guggenheim from $220.00 to $245.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price objective points to a potential upside of 54.33% from the stock’s previous close.

A number of other analysts have also recently commented on AXSM. Wolfe Research initiated coverage on shares of Axsome Therapeutics in a research note on Monday, February 23rd. They issued an “outperform” rating and a $230.00 price target for the company. Jefferies Financial Group set a $215.00 price objective on shares of Axsome Therapeutics in a research note on Monday, February 23rd. Piper Sandler upped their target price on shares of Axsome Therapeutics from $148.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Wednesday, January 21st. Finally, Truist Financial set a $200.00 price target on Axsome Therapeutics in a research report on Monday, February 23rd. Seventeen research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $217.59.

Axsome Therapeutics Trading Up 1.2%

Shares of Axsome Therapeutics stock opened at $158.75 on Wednesday. Axsome Therapeutics has a 12-month low of $86.99 and a 12-month high of $191.50. The stock has a market cap of $8.12 billion, a P/E ratio of -43.02 and a beta of 0.43. The company has a quick ratio of 1.48, a current ratio of 1.55 and a debt-to-equity ratio of 1.38. The business’s 50 day moving average is $174.05 and its 200-day moving average is $151.65.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, February 23rd. The company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.14. Axsome Therapeutics had a negative return on equity of 232.61% and a negative net margin of 28.69%.The company had revenue of $196.00 million during the quarter, compared to the consensus estimate of $191.33 million. The business’s revenue was up 65.0% on a year-over-year basis. Equities research analysts predict that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Activity at Axsome Therapeutics

In related news, CEO Herriot Tabuteau sold 32,410 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $185.60, for a total value of $6,015,296.00. Following the transaction, the chief executive officer owned 7,229 shares in the company, valued at approximately $1,341,702.40. This represents a 81.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Coleman sold 25,000 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $161.11, for a total transaction of $4,027,750.00. Following the completion of the transaction, the director directly owned 47,140 shares in the company, valued at approximately $7,594,725.40. This represents a 34.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 289,279 shares of company stock worth $49,496,963 in the last quarter. 22.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Axsome Therapeutics by 6.0% during the third quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock worth $507,739,000 after buying an additional 235,626 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Axsome Therapeutics by 45.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock valued at $275,763,000 after acquiring an additional 472,422 shares in the last quarter. Wellington Management Group LLP raised its holdings in Axsome Therapeutics by 84.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after acquiring an additional 609,516 shares in the last quarter. Invesco Ltd. lifted its position in shares of Axsome Therapeutics by 28.6% during the 4th quarter. Invesco Ltd. now owns 1,273,494 shares of the company’s stock valued at $232,591,000 after acquiring an additional 282,937 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Axsome Therapeutics by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company’s stock valued at $184,544,000 after acquiring an additional 12,549 shares during the period. 81.49% of the stock is owned by institutional investors.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.