Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives $129.43 Consensus Price Target from Analysts

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has been assigned an average rating of “Buy” from the thirteen research firms that are covering the stock, MarketBeat reports. Thirteen investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have covered the stock in the last year is $130.69.

Several brokerages have recently issued reports on AXSM. Needham & Company LLC restated a “buy” rating and issued a $133.00 target price on shares of Axsome Therapeutics in a report on Monday, January 13th. Mizuho dropped their price objective on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a report on Tuesday, December 31st. Truist Financial boosted their target price on Axsome Therapeutics from $150.00 to $180.00 and gave the company a “buy” rating in a report on Monday, January 13th. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $121.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, December 12th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Axsome Therapeutics by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock worth $19,062,000 after purchasing an additional 27,534 shares during the period. PDT Partners LLC acquired a new position in Axsome Therapeutics during the third quarter worth $1,052,000. Pallas Capital Advisors LLC acquired a new position in Axsome Therapeutics during the fourth quarter worth $2,237,000. Captrust Financial Advisors purchased a new position in Axsome Therapeutics in the third quarter worth $514,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Axsome Therapeutics by 71.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,733 shares of the company’s stock worth $1,234,000 after purchasing an additional 5,737 shares in the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $96.18 on Wednesday. The firm has a market capitalization of $4.66 billion, a PE ratio of -14.73 and a beta of 1.04. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. The business’s fifty day moving average price is $92.29 and its 200 day moving average price is $89.61. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, topping the consensus estimate of ($1.38) by $0.04. The business had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same quarter last year, the company earned ($1.32) EPS. On average, sell-side analysts anticipate that Axsome Therapeutics will post -4.7 earnings per share 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.