Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “positive” rating reaffirmed by research analysts at BTIG Research in a report issued on Wednesday, The Fly reports. They currently have a $48.00 target price on the stock. BTIG Research’s price target would suggest a potential upside of 11.01% from the stock’s current price.
A number of other brokerages have also weighed in on AXSM. Zacks Investment Research upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Axsome Therapeutics in a report on Thursday, October 17th. BidaskClub upgraded shares of Axsome Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 20th. Guggenheim began coverage on shares of Axsome Therapeutics in a research note on Wednesday, October 16th. They issued a “buy” rating and a $48.00 price target on the stock. Finally, Cantor Fitzgerald boosted their price target on shares of Axsome Therapeutics from $45.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Axsome Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $42.67.
Shares of Axsome Therapeutics stock opened at $43.24 on Wednesday. The stock has a market capitalization of $1.36 billion, a P/E ratio of -37.60 and a beta of 2.84. The business has a 50 day simple moving average of $28.76 and a two-hundred day simple moving average of $25.43. Axsome Therapeutics has a 12 month low of $1.94 and a 12 month high of $47.68. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.39 and a quick ratio of 2.39.
Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($0.15). As a group, research analysts anticipate that Axsome Therapeutics will post -1.7 EPS for the current fiscal year.
In related news, CFO Nick Pizzie acquired 2,180 shares of the stock in a transaction on Thursday, September 26th. The shares were bought at an average price of $24.80 per share, with a total value of $54,064.00. Following the completion of the purchase, the chief financial officer now owns 40,440 shares of the company’s stock, valued at approximately $1,002,912. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 27.50% of the company’s stock.
Large investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in shares of Axsome Therapeutics by 263.1% during the 2nd quarter. BlackRock Inc. now owns 1,690,522 shares of the company’s stock worth $43,531,000 after acquiring an additional 1,224,935 shares during the period. Northern Trust Corp raised its stake in Axsome Therapeutics by 155.3% during the second quarter. Northern Trust Corp now owns 90,263 shares of the company’s stock worth $2,325,000 after purchasing an additional 54,905 shares during the period. Athanor Capital LP purchased a new position in Axsome Therapeutics during the second quarter worth about $237,000. Swiss National Bank acquired a new position in Axsome Therapeutics in the 2nd quarter valued at about $1,115,000. Finally, Allianz Asset Management GmbH acquired a new position in Axsome Therapeutics in the 2nd quarter valued at about $1,735,000. Institutional investors own 54.64% of the company’s stock.
About Axsome Therapeutics
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.
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