Robert W. Baird Issues Positive Forecast for Axsome Therapeutics (NASDAQ:AXSM) Stock Price

Axsome Therapeutics (NASDAQ:AXSM) had its price target boosted by Robert W. Baird from $132.00 to $160.00 in a report issued on Monday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other equities analysts have also weighed in on the stock. William Blair reaffirmed an “outperform” rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Truist Financial lifted their target price on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Mizuho lifted their target price on shares of Axsome Therapeutics from $195.00 to $212.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Finally, Royal Bank of Canada lifted their target price on shares of Axsome Therapeutics from $143.00 to $192.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Axsome Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $167.36.

Axsome Therapeutics Stock Performance

AXSM opened at $125.10 on Monday. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $139.13. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The firm has a market capitalization of $6.10 billion, a PE ratio of -20.88 and a beta of 0.99. The firm has a 50 day moving average of $107.34 and a two-hundred day moving average of $97.28.

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

Insiders Place Their Bets

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction on Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the sale, the chief financial officer now owns 42,187 shares of the company’s stock, valued at $5,529,450.09. The trade was a 6.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 22.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pitcairn Co. boosted its position in shares of Axsome Therapeutics by 3.4% during the 4th quarter. Pitcairn Co. now owns 4,562 shares of the company’s stock valued at $386,000 after acquiring an additional 148 shares during the last quarter. Meridian Wealth Management LLC boosted its position in shares of Axsome Therapeutics by 0.7% during the 4th quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company’s stock valued at $1,791,000 after acquiring an additional 150 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in shares of Axsome Therapeutics by 4.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company’s stock valued at $326,000 after acquiring an additional 162 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Axsome Therapeutics by 1.8% during the 4th quarter. Arizona State Retirement System now owns 9,054 shares of the company’s stock valued at $766,000 after acquiring an additional 164 shares during the last quarter. Finally, Intrust Bank NA boosted its position in shares of Axsome Therapeutics by 6.9% during the 4th quarter. Intrust Bank NA now owns 2,823 shares of the company’s stock valued at $239,000 after acquiring an additional 183 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

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.