Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $245.00

Axsome Therapeutics (NASDAQ:AXSM) had its price objective boosted by equities research analysts at Jefferies Financial Group from $200.00 to $245.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s target price suggests a potential upside of 31.81% from the stock’s previous close.

AXSM has been the topic of a number of other reports. Mizuho set a $217.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, December 31st. UBS Group boosted their target price on Axsome Therapeutics from $163.00 to $248.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Royal Bank Of Canada upped their price target on Axsome Therapeutics from $212.00 to $219.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Axsome Therapeutics in a report on Wednesday, January 14th. Finally, HC Wainwright upped their target price on Axsome Therapeutics from $200.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Nineteen equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $208.72.

Axsome Therapeutics Stock Up 0.9%

NASDAQ AXSM opened at $185.88 on Tuesday. The business has a fifty day moving average price of $163.98 and a 200 day moving average price of $136.57. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.50 and a current ratio of 1.57. The company has a market cap of $9.37 billion, a P/E ratio of -39.80, a P/E/G ratio of 11.89 and a beta of 0.40. Axsome Therapeutics has a one year low of $86.99 and a one year high of $191.50.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.12). Axsome Therapeutics had a negative return on equity of 277.31% and a negative net margin of 40.90%.The business had revenue of $170.99 million for the quarter, compared to analyst estimates of $162.96 million. The firm’s revenue was up 63.2% on a year-over-year basis. Research analysts anticipate that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 12,000 shares of Axsome Therapeutics stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $187.92, for a total value of $2,255,040.00. Following the sale, the chief financial officer owned 42,588 shares in the company, valued at $8,003,136.96. The trade was a 21.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Herriot Tabuteau sold 78,703 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $171.28, for a total value of $13,480,249.84. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,238,183.12. This trade represents a 91.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 330,649 shares of company stock worth $54,319,324. Insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in Axsome Therapeutics by 84.1% during the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock worth $162,082,000 after buying an additional 609,516 shares during the period. Norges Bank acquired a new position in shares of Axsome Therapeutics in the 2nd quarter worth approximately $48,889,000. Invesco Ltd. lifted its holdings in shares of Axsome Therapeutics by 73.3% in the 3rd quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock worth $120,303,000 after acquiring an additional 419,008 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Axsome Therapeutics by 831.3% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company’s stock worth $46,662,000 after purchasing an additional 399,000 shares during the period. Finally, Hood River Capital Management LLC acquired a new stake in Axsome Therapeutics in the 2nd quarter valued at approximately $38,740,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

About Axsome Therapeutics

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.