Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives $167.36 Average Price Target from Brokerages

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has received an average rating of “Buy” from the fifteen ratings firms that are covering the company, Marketbeat reports. Fifteen research analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have issued a report on the stock in the last year is $167.36.

AXSM has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, March 6th. Mizuho increased their price target on shares of Axsome Therapeutics from $195.00 to $212.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Robert W. Baird increased their price target on shares of Axsome Therapeutics from $132.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Leerink Partners increased their price target on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Finally, Wells Fargo & Company increased their price target on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th.

Insider Transactions at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the transaction, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in AXSM. Privium Fund Management B.V. lifted its stake in Axsome Therapeutics by 7.9% in the third quarter. Privium Fund Management B.V. now owns 80,232 shares of the company’s stock valued at $7,210,000 after buying an additional 5,900 shares during the last quarter. Versor Investments LP purchased a new position in Axsome Therapeutics during the third quarter worth about $791,000. WCM Investment Management LLC raised its holdings in shares of Axsome Therapeutics by 0.3% in the 3rd quarter. WCM Investment Management LLC now owns 113,692 shares of the company’s stock worth $10,191,000 after purchasing an additional 347 shares during the period. Royce & Associates LP grew its stake in shares of Axsome Therapeutics by 73.1% in the third quarter. Royce & Associates LP now owns 22,500 shares of the company’s stock valued at $2,022,000 after buying an additional 9,500 shares in the last quarter. Finally, Whalen Wealth Management Inc. acquired a new stake in Axsome Therapeutics during the 3rd quarter valued at approximately $236,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Axsome Therapeutics Price Performance

AXSM stock opened at $118.78 on Thursday. Axsome Therapeutics has a one year low of $64.11 and a one year high of $139.13. The company’s fifty day moving average price is $109.46 and its 200-day moving average price is $98.05. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. The company has a market capitalization of $5.79 billion, a PE ratio of -19.83 and a beta of 1.00.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. The company had revenue of $118.77 million for the quarter, compared to the consensus estimate of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. On average, equities analysts anticipate that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.

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.