Royal Bank of Canada Increases Axsome Therapeutics (NASDAQ:AXSM) Price Target to $192.00

Axsome Therapeutics (NASDAQ:AXSMGet Free Report) had its price target boosted by research analysts at Royal Bank of Canada from $143.00 to $192.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 50.69% from the company’s previous close.

Other analysts also recently issued reports about the stock. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Axsome Therapeutics in a report on Tuesday, February 11th. They set a “buy” rating and a $176.00 price objective for the company. Bank of America upped their price objective on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Needham & Company LLC upped their price objective on shares of Axsome Therapeutics from $133.00 to $153.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and set a $190.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, February 11th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.13.

Read Our Latest Stock Analysis on AXSM

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM traded down $0.68 during midday trading on Wednesday, reaching $127.42. The company’s stock had a trading volume of 126,920 shares, compared to its average volume of 1,078,651. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The company has a 50 day moving average price of $98.47 and a 200 day moving average price of $93.68. Axsome Therapeutics has a one year low of $64.11 and a one year high of $134.18. The company has a market cap of $6.17 billion, a price-to-earnings ratio of -19.51 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSMGet Free Report) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The business had revenue of $118.77 million for the quarter, compared to the consensus estimate of $117.83 million. On average, equities research analysts expect that Axsome Therapeutics will post -4.59 EPS for the current year.

Insider Activity at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the sale, the chief financial officer now directly owns 42,187 shares in the company, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 22.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Axsome Therapeutics

A number of hedge funds have recently modified their holdings of AXSM. BVF Inc. IL raised its holdings in Axsome Therapeutics by 32.7% during the 4th quarter. BVF Inc. IL now owns 1,388,064 shares of the company’s stock worth $117,444,000 after buying an additional 342,064 shares during the period. FMR LLC raised its holdings in Axsome Therapeutics by 20.6% during the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after buying an additional 185,951 shares during the period. Geode Capital Management LLC raised its holdings in Axsome Therapeutics by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 912,538 shares of the company’s stock worth $77,228,000 after buying an additional 4,079 shares during the period. Wellington Management Group LLP raised its holdings in Axsome Therapeutics by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock worth $66,750,000 after buying an additional 8,125 shares during the period. Finally, Invesco Ltd. raised its holdings in Axsome Therapeutics by 10.8% during the 4th quarter. Invesco Ltd. now owns 692,464 shares of the company’s stock worth $58,589,000 after buying an additional 67,285 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

About Axsome Therapeutics

(Get Free Report)

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.

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