Analysts Set Axsome Therapeutics, Inc. (NASDAQ:AXSM) PT at $124.64

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have earned an average recommendation of “Buy” from the fourteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Fourteen equities research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $124.64.

A number of equities research analysts recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 price target on shares of Axsome Therapeutics in a report on Monday, September 16th. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Royal Bank of Canada upped their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. HC Wainwright reiterated a “buy” rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Finally, Wells Fargo & Company started coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective on the stock.

Insider Transactions at Axsome Therapeutics

In other news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the transaction, the director now owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Mark L. Jacobson sold 47,739 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.26, for a total value of $4,022,488.14. Following the transaction, the chief operating officer now owns 5,783 shares of the company’s stock, valued at approximately $487,275.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the transaction, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Axsome Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock valued at $298,474,000 after acquiring an additional 43,512 shares during the last quarter. Perceptive Advisors LLC increased its stake in Axsome Therapeutics by 115.5% in the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock valued at $82,616,000 after acquiring an additional 556,370 shares during the last quarter. Point72 Asset Management L.P. increased its stake in Axsome Therapeutics by 57.4% in the fourth quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock valued at $66,633,000 after acquiring an additional 305,264 shares during the last quarter. Millennium Management LLC increased its stake in Axsome Therapeutics by 1.4% in the second quarter. Millennium Management LLC now owns 739,819 shares of the company’s stock valued at $59,555,000 after acquiring an additional 10,401 shares during the last quarter. Finally, Bellevue Group AG boosted its position in Axsome Therapeutics by 7.9% during the first quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock valued at $54,701,000 after buying an additional 50,104 shares during the period. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Price Performance

Axsome Therapeutics stock opened at $87.56 on Monday. Axsome Therapeutics has a 52 week low of $55.02 and a 52 week high of $98.40. The company’s 50 day moving average price is $88.96 and its two-hundred day moving average price is $81.08. The company has a quick ratio of 2.40, a current ratio of 2.48 and a debt-to-equity ratio of 1.77. The stock has a market cap of $4.16 billion, a P/E ratio of -13.72 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Monday, August 5th. The company reported ($1.24) EPS for the quarter, topping the consensus estimate of ($1.30) by $0.06. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. The firm had revenue of $87.17 million for the quarter, compared to analysts’ expectations of $84.53 million. On average, equities analysts predict that Axsome Therapeutics will post -4.73 earnings per share for the current year.

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.