Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives $124.93 Consensus Target Price from Brokerages

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have received a consensus recommendation of “Buy” from the fourteen brokerages that are covering the stock, Marketbeat reports. Fourteen analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $124.93.

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company assumed coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price target on the stock. Robert W. Baird lifted their price objective on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. UBS Group decreased their price objective on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. HC Wainwright reissued a “buy” rating and set a $180.00 target price on shares of Axsome Therapeutics in a research note on Monday. Finally, Needham & Company LLC restated a “buy” rating and issued a $130.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, November 12th.

Insider Activity at Axsome Therapeutics

In related news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the transaction, the director now owns 10,002 shares in the company, valued at $913,282.62. The trade was a 52.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AXSM. Northwestern Mutual Wealth Management Co. acquired a new stake in Axsome Therapeutics during the second quarter worth approximately $27,000. EntryPoint Capital LLC bought a new stake in Axsome Therapeutics in the first quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Axsome Therapeutics during the second quarter valued at about $47,000. Russell Investments Group Ltd. boosted its position in shares of Axsome Therapeutics by 5,550.0% during the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after purchasing an additional 777 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Axsome Therapeutics by 22.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after buying an additional 318 shares during the period. 81.49% of the stock is owned by institutional investors and hedge funds.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $99.65 on Tuesday. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of -15.26 and a beta of 1.26. The firm has a fifty day simple moving average of $91.48 and a 200 day simple moving average of $85.67. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.38) by $0.04. The business had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same period last year, the business earned ($1.32) earnings per share. Research analysts forecast that Axsome Therapeutics will post -4.75 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.