Cantor Fitzgerald Boosts Axsome Therapeutics (AXSM) Price Target to $16.00

Axsome Therapeutics (NASDAQ:AXSM) had its price target upped by research analysts at Cantor Fitzgerald from $13.00 to $16.00 in a report issued on Friday, The Fly reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 49.39% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. BidaskClub raised shares of Axsome Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Friday. BTIG Research upped their price objective on shares of Axsome Therapeutics to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 8th. HC Wainwright upped their price objective on shares of Axsome Therapeutics to $15.00 and gave the company a “buy” rating in a research note on Monday, January 7th. LADENBURG THALM/SH SH reaffirmed a “positive” rating and issued a $45.00 price objective (up previously from $34.00) on shares of Axsome Therapeutics in a research note on Monday, January 7th. Finally, Zacks Investment Research cut shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, January 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Axsome Therapeutics currently has an average rating of “Buy” and a consensus target price of $24.75.

AXSM stock opened at $10.71 on Friday. Axsome Therapeutics has a one year low of $1.94 and a one year high of $10.89. The company has a market capitalization of $302.90 million, a price-to-earnings ratio of -8.64 and a beta of 3.32. The company has a debt-to-equity ratio of 6.00, a current ratio of 1.46 and a quick ratio of 1.46.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.01. As a group, equities research analysts forecast that Axsome Therapeutics will post -1.13 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in AXSM. Sio Capital Management LLC boosted its position in Axsome Therapeutics by 115.5% during the 3rd quarter. Sio Capital Management LLC now owns 416,458 shares of the company’s stock valued at $1,437,000 after buying an additional 223,168 shares during the period. Worth Venture Partners LLC purchased a new stake in Axsome Therapeutics during the 3rd quarter valued at $138,000. Alethea Capital Management LLC boosted its position in Axsome Therapeutics by 65.9% during the 4th quarter. Alethea Capital Management LLC now owns 908,429 shares of the company’s stock valued at $2,562,000 after buying an additional 360,986 shares during the period. BlackRock Inc. boosted its position in Axsome Therapeutics by 14.6% during the 4th quarter. BlackRock Inc. now owns 64,049 shares of the company’s stock valued at $181,000 after buying an additional 8,137 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Axsome Therapeutics during the 4th quarter valued at $98,000. 12.84% of the stock is owned by institutional investors and hedge funds.

About Axsome Therapeutics

Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, is developing novel therapies for central nervous system (CNS) disorders. Its product candidate portfolio includes AXS-05, AXS-09, AXS-02, AXS-07, and AXS-06. AXS-05 is in the Phase III clinical trial in treatment resistant depression and in agitation associated with Alzheimer's disease, as well as in the Phase II clinical trial for smoking cessation.

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