Axsome Therapeutics (NASDAQ:AXSM) Given New $223.00 Price Target at Morgan Stanley

Axsome Therapeutics (NASDAQ:AXSM) had its target price decreased by Morgan Stanley from $249.00 to $223.00 in a report released on Friday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other analysts also recently commented on AXSM. Royal Bank Of Canada lowered their price objective on Axsome Therapeutics from $295.00 to $273.00 and set an “outperform” rating for the company in a research note on Tuesday, November 3rd. UBS Group cut their target price on Axsome Therapeutics from $256.00 to $239.00 and set a “buy” rating on the stock in a research report on Tuesday, November 3rd. Robert W. Baird cut their target price on Axsome Therapeutics from $246.00 to $220.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 3rd. Deutsche Bank decreased their price target on Axsome Therapeutics from $280.00 to $267.00 and set a “buy” rating for the company in a report on Tuesday, September 29th. Finally, Wells Fargo & Company reissued an “outperform” rating on shares of Axsome Therapeutics in a research report on Tuesday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $266.21.

Axsome Therapeutics Trading Down 1.9%

NASDAQ AXSM opened at $141.69 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.34 and a current ratio of 1.42. Axsome Therapeutics has a 52 week low of $123.00 and a 52 week high of $260.19. The business has a 50 day moving average price of $171.45 and a 200-day moving average price of $196.75.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Monday, November 2nd. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.38. The company had revenue of $259.69 million for the quarter, compared to analysts’ expectations of $249.19 million. Axsome Therapeutics had a negative return on equity of 198.73% and a negative net margin of 18.18%. Axsome Therapeutics’s quarterly revenue was up 51.9% compared to the same quarter last year. During the same period last year, the business earned ($0.94) EPS. On average, analysts predict that Axsome Therapeutics will post -2.27 earnings per share for the current year.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark Jacobson sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $208.65, for a total value of $2,086,500.00. Following the completion of the sale, the chief operating officer directly owned 10,000 shares of the company’s stock, valued at approximately $2,086,500. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 20.60% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds have recently modified their holdings of AXSM. Marshall Wace LLP boosted its stake in shares of Axsome Therapeutics by 16.7% in the 3rd quarter. Marshall Wace LLP now owns 260,636 shares of the company’s stock worth $48,059,000 after buying an additional 37,250 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Axsome Therapeutics by 0.6% during the third quarter. State Board of Administration of Florida Retirement System now owns 31,458 shares of the company’s stock valued at $5,801,000 after acquiring an additional 173 shares during the last quarter. Polymer Capital Management US LLC purchased a new stake in shares of Axsome Therapeutics during the third quarter valued at approximately $236,000. AlphaGrep UK Ltd lifted its holdings in Axsome Therapeutics by 181.8% during the third quarter. AlphaGrep UK Ltd now owns 2,649 shares of the company’s stock worth $488,000 after acquiring an additional 1,709 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Axsome Therapeutics by 14.7% during the third quarter. First Trust Advisors LP now owns 552,720 shares of the company’s stock worth $101,916,000 after acquiring an additional 70,659 shares during the period. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

Axsome Therapeutics is a biopharmaceutical company focused on developing and commercializing treatments for central nervous system disorders. The company is headquartered in New York and is led by founder, chairman and chief executive officer Herriot Tabuteau. Its marketed products include Auvelity, an oral treatment for major depressive disorder in adults, and Sunosi, which is used to improve wakefulness in adults with excessive daytime sleepiness associated with narcolepsy or obstructive sleep apnea.