Axsome Therapeutics (NASDAQ:AXSM) had its target price hoisted by analysts at Guggenheim from $65.00 to $48.00 in a note issued to investors on Wednesday, The Fly reports. Guggenheim’s price target indicates a potential upside of 1.20% from the company’s previous close.
A number of other research analysts have also commented on the company. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Axsome Therapeutics in a research note on Thursday, October 17th. SunTrust Banks boosted their price target on shares of Axsome Therapeutics to $60.00 and gave the company a “positive” rating in a report on Wednesday. Cantor Fitzgerald boosted their price target on shares of Axsome Therapeutics from $45.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday. Zacks Investment Research upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, November 19th. Finally, William Blair began coverage on shares of Axsome Therapeutics in a report on Wednesday, September 18th. They set an “outperform” rating and a $48.00 price objective for the company. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $42.67.
Axsome Therapeutics stock traded up $1.82 during trading hours on Wednesday, hitting $47.43. The stock had a trading volume of 1,348,848 shares, compared to its average volume of 941,955. The company has a 50-day moving average of $27.72 and a two-hundred day moving average of $25.21. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 2.80. The company has a market cap of $1.36 billion, a PE ratio of -41.24 and a beta of 2.84. Axsome Therapeutics has a fifty-two week low of $1.94 and a fifty-two week high of $47.24.
Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($0.15). As a group, analysts forecast that Axsome Therapeutics will post -1.7 EPS for the current fiscal year.
In related news, CFO Nick Pizzie bought 2,180 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was acquired at an average price of $24.80 per share, for a total transaction of $54,064.00. Following the transaction, the chief financial officer now directly owns 40,440 shares of the company’s stock, valued at $1,002,912. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 27.50% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in shares of Axsome Therapeutics by 263.1% in the 2nd quarter. BlackRock Inc. now owns 1,690,522 shares of the company’s stock valued at $43,531,000 after purchasing an additional 1,224,935 shares in the last quarter. Northern Trust Corp grew its position in Axsome Therapeutics by 155.3% during the 2nd quarter. Northern Trust Corp now owns 90,263 shares of the company’s stock worth $2,325,000 after acquiring an additional 54,905 shares during the last quarter. Athanor Capital LP bought a new stake in Axsome Therapeutics during the 2nd quarter worth approximately $237,000. Swiss National Bank acquired a new stake in Axsome Therapeutics during the 2nd quarter valued at $1,115,000. Finally, Allianz Asset Management GmbH acquired a new stake in Axsome Therapeutics during the 2nd quarter valued at $1,735,000. Hedge funds and other institutional investors own 54.64% of the company’s stock.
Axsome Therapeutics Company Profile
Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in developing novel therapies for central nervous system (CNS) disorders in the United States. Its product pipeline includes AXS-05, which is in the Phase III clinical trial for the treatment resistant depression; Phase II/III clinical trials in agitation associated with Alzheimer's disease; and Phase II clinical trial for the treatment of smoking cessation, as well as for major depressive disorder.
Read More: Hang Seng Index (HSI)
Receive News & Ratings for Axsome Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axsome Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.