Axsome Therapeutics (NASDAQ:AXSM) Price Target Increased to $112.00 by Analysts at Robert W. Baird

Axsome Therapeutics (NASDAQ:AXSM) had its target price raised by analysts at Robert W. Baird from $108.00 to $112.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target points to a potential upside of 47.99% from the company’s previous close.

Several other equities research analysts have also commented on AXSM. Morgan Stanley raised Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $90.00 to $115.00 in a research note on Monday, April 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $107.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, April 10th. Citigroup boosted their price target on Axsome Therapeutics from $125.00 to $127.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Guggenheim boosted their price target on Axsome Therapeutics from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, HC Wainwright reissued a “buy” rating and set a $190.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Axsome Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $121.92.

Axsome Therapeutics Price Performance

Shares of AXSM opened at $75.68 on Tuesday. Axsome Therapeutics has a twelve month low of $55.02 and a twelve month high of $98.40. The stock’s 50 day moving average is $73.99 and its two-hundred day moving average is $75.73. The firm has a market capitalization of $3.59 billion, a PE ratio of -14.55 and a beta of 1.13. The company has a current ratio of 3.63, a quick ratio of 3.52 and a debt-to-equity ratio of 0.93.

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 analysts’ consensus estimates 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 company had revenue of $71.53 million for the quarter, compared to analyst estimates of $70.38 million. Research analysts anticipate that Axsome Therapeutics will post -3.75 earnings per share for the current year.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, Director Roger Jeffs sold 29,976 shares of the business’s stock in a transaction on 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 completion of the transaction, the director now directly owns 120,756 shares in the company, valued at approximately $8,416,693.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Axsome Therapeutics news, COO Mark L. Jacobson sold 24,662 shares of the business’s stock in a transaction on 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Roger Jeffs sold 29,976 shares of the company’s stock in a transaction on 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 sale, the director now owns 120,756 shares of the company’s stock, valued at $8,416,693.20. The disclosure for this sale can be found here. 24.50% of the stock is currently owned by insiders.

Institutional Trading of Axsome Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. RTW Investments LP increased its holdings in shares of Axsome Therapeutics by 4.8% during the 3rd quarter. RTW Investments LP now owns 4,489,596 shares of the company’s stock worth $313,778,000 after buying an additional 205,319 shares during the last quarter. Perceptive Advisors LLC increased its holdings in shares of Axsome Therapeutics by 115.5% during the 4th quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock worth $82,616,000 after buying an additional 556,370 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Axsome Therapeutics by 57.4% during the 4th quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock worth $66,633,000 after buying an additional 305,264 shares during the last quarter. Bellevue Group AG increased its holdings in shares of Axsome Therapeutics by 0.6% during the 4th quarter. Bellevue Group AG now owns 635,372 shares of the company’s stock worth $50,569,000 after buying an additional 3,885 shares during the last quarter. Finally, Avidity Partners Management LP increased its holdings in shares of Axsome Therapeutics by 54.8% during the 4th quarter. Avidity Partners Management LP now owns 459,400 shares of the company’s stock worth $36,564,000 after buying an additional 162,600 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.