Axsome Therapeutics (NASDAQ:AXSM) Rating Reiterated by HC Wainwright

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reiterated by HC Wainwright in a report released on Tuesday, Benzinga reports. They currently have a $190.00 target price on the stock. HC Wainwright’s price target points to a potential upside of 150.20% from the stock’s current price.

Several other equities analysts have also weighed in on AXSM. Robert W. Baird raised their price objective on shares of Axsome Therapeutics from $108.00 to $112.00 and gave the company an “outperform” rating in a research report on Tuesday. Citigroup raised their target price on shares of Axsome Therapeutics from $125.00 to $127.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, April 10th. Royal Bank of Canada increased their price objective on Axsome Therapeutics from $123.00 to $128.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Finally, Truist Financial restated a “buy” rating and issued a $150.00 target price on shares of Axsome Therapeutics in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Axsome Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $122.33.

Axsome Therapeutics Stock Performance

AXSM opened at $75.94 on Tuesday. The business has a 50 day moving average price of $74.28 and a two-hundred day moving average price of $75.64. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.63 and a quick ratio of 3.52. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of -14.60 and a beta of 1.13. Axsome Therapeutics has a 1-year low of $55.02 and a 1-year high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($1.21) by $0.48. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. The business had revenue of $71.53 million during the quarter, compared to analyst estimates of $70.38 million. Research analysts predict that Axsome Therapeutics will post -3.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Mark L. Jacobson sold 24,662 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $77.24, for a total value of $1,904,892.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Axsome Therapeutics news, Director Roger Jeffs sold 29,976 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $69.70, for a total value of $2,089,327.20. Following the transaction, the director now directly owns 120,756 shares of the company’s stock, valued at approximately $8,416,693.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Mark L. Jacobson sold 24,662 shares of Axsome Therapeutics stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The disclosure for this sale can be found here. Corporate insiders own 24.50% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXSM. Commonwealth Equity Services LLC increased its stake in shares of Axsome Therapeutics by 30.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 6,741 shares of the company’s stock worth $471,000 after purchasing an additional 1,558 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Axsome Therapeutics by 1.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 18,734 shares of the company’s stock worth $1,309,000 after buying an additional 197 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Axsome Therapeutics by 4.3% during the third quarter. Bank of New York Mellon Corp now owns 168,006 shares of the company’s stock valued at $11,742,000 after buying an additional 6,920 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Axsome Therapeutics by 12.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,724 shares of the company’s stock valued at $540,000 after buying an additional 872 shares in the last quarter. Finally, Strs Ohio lifted its position in shares of Axsome Therapeutics by 28.4% in the third quarter. Strs Ohio now owns 9,500 shares of the company’s stock worth $663,000 after buying an additional 2,100 shares during the last quarter. 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.