Deutsche Bank Aktiengesellschaft Initiates Coverage on Axsome Therapeutics (NASDAQ:AXSM)

Deutsche Bank Aktiengesellschaft began coverage on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $176.00 price target on the stock.

AXSM has been the subject of a number of other research reports. Leerink Partners upped their price target on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday. Cantor Fitzgerald restated an “overweight” rating and issued a $121.00 price target on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Mizuho upped their price target on Axsome Therapeutics from $122.00 to $137.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Robert W. Baird upped their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Truist Financial upped their price target on Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $147.13.

Axsome Therapeutics Stock Up 0.1 %

AXSM stock opened at $131.68 on Tuesday. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $134.18. The business’s 50-day moving average is $96.55 and its two-hundred day moving average is $92.67. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The company has a market cap of $6.38 billion, a price-to-earnings ratio of -20.17 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. The company had revenue of $104.76 million for the quarter, compared to the consensus estimate of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same quarter in the prior year, the company earned ($1.32) earnings per share. As a group, analysts forecast that Axsome Therapeutics will post -4.7 earnings per share for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

Several institutional investors have recently added to or reduced their stakes in AXSM. Norges Bank purchased a new position in Axsome Therapeutics during the 4th quarter valued at approximately $34,100,000. Iron Triangle Partners LP purchased a new position in Axsome Therapeutics during the 3rd quarter valued at approximately $22,671,000. Principal Financial Group Inc. grew its holdings in Axsome Therapeutics by 6,002.7% during the 4th quarter. Principal Financial Group Inc. now owns 207,065 shares of the company’s stock valued at $17,520,000 after buying an additional 203,672 shares in the last quarter. FMR LLC grew its holdings in Axsome Therapeutics by 20.6% during the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after buying an additional 185,951 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Axsome Therapeutics during the 4th quarter valued at approximately $14,771,000. Hedge funds and other 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.