Truist Financial Reiterates Buy Rating for Axsome Therapeutics (NASDAQ:AXSM)

Truist Financial restated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a report issued on Tuesday, Benzinga reports. The brokerage currently has a $150.00 price target on the stock.

AXSM has been the topic of a number of other reports. Cantor Fitzgerald reaffirmed an overweight rating and set a $108.00 price target on shares of Axsome Therapeutics in a report on Tuesday, February 20th. HC Wainwright upped their price objective on Axsome Therapeutics from $180.00 to $190.00 and gave the company a buy rating in a research report on Tuesday. UBS Group started coverage on Axsome Therapeutics in a research report on Tuesday, February 6th. They issued a buy rating and a $111.00 price target for the company. Piper Sandler upped their price target on Axsome Therapeutics from $90.00 to $113.00 and gave the stock an overweight rating in a research report on Tuesday, January 16th. Finally, Guggenheim upped their price target on Axsome Therapeutics from $110.00 to $125.00 and gave the stock a buy rating in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $119.75.

Axsome Therapeutics Price Performance

Shares of AXSM stock opened at $79.80 on Tuesday. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of -15.35 and a beta of 1.17. The business’s fifty day moving average is $84.01 and its 200 day moving average is $75.32. Axsome Therapeutics has a twelve month low of $55.02 and a twelve month high of $98.40. The company has a quick ratio of 3.52, a current ratio of 3.63 and a debt-to-equity ratio of 0.93.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($1.21) by $0.48. The company had revenue of $71.53 million for the quarter, compared to analysts’ expectations of $70.38 million. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. Research analysts expect that Axsome Therapeutics will post -3.71 EPS for the current fiscal year.

Insider Activity

In related news, Director Roger Jeffs sold 29,976 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the completion of the transaction, the director now owns 120,756 shares in the company, valued at approximately $8,416,693.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 24.50% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Washington Trust Advisors Inc. bought a new position in shares of Axsome Therapeutics in the 4th quarter worth $26,000. Harbour Investments Inc. increased its position in Axsome Therapeutics by 461.5% during the 2nd quarter. Harbour Investments Inc. now owns 365 shares of the company’s stock valued at $26,000 after buying an additional 300 shares in the last quarter. Fifth Third Bancorp increased its position in Axsome Therapeutics by 100.0% during the 3rd quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Captrust Financial Advisors grew its stake in Axsome Therapeutics by 582.0% during the 1st quarter. Captrust Financial Advisors now owns 757 shares of the company’s stock valued at $31,000 after purchasing an additional 646 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Axsome Therapeutics by 141.1% in the first quarter. Tower Research Capital LLC TRC now owns 815 shares of the company’s stock worth $50,000 after buying an additional 477 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

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.