Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives $169.80 Consensus Target Price from Brokerages

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has earned an average recommendation of “Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat.com reports. Sixteen equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $169.87.

A number of analysts have recently weighed in on the stock. Bank of America boosted their target price 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. William Blair restated an “outperform” rating on shares of Axsome Therapeutics in a research report on Tuesday, February 18th. Wells Fargo & Company raised their price objective on Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Truist Financial increased their price target on Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Leerink Partners raised their price target on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th.

Axsome Therapeutics Price Performance

NASDAQ:AXSM opened at $109.92 on Friday. The company has a market capitalization of $5.36 billion, a P/E ratio of -18.35 and a beta of 0.88. The business’s 50-day moving average is $114.76 and its 200 day moving average is $103.42. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. The firm had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. On average, equities research analysts forecast that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at $5,529,450.09. The trade was a 6.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 22.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Several institutional investors have recently made changes to their positions in AXSM. JPMorgan Chase & Co. increased its position in Axsome Therapeutics by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock valued at $19,062,000 after purchasing an additional 27,534 shares during the period. Strategic Financial Concepts LLC bought a new position in Axsome Therapeutics in the fourth quarter worth approximately $2,599,000. Intech Investment Management LLC lifted its holdings in Axsome Therapeutics by 46.5% during the fourth quarter. Intech Investment Management LLC now owns 16,028 shares of the company’s stock worth $1,356,000 after buying an additional 5,087 shares during the period. Raymond James Financial Inc. bought a new stake in Axsome Therapeutics during the 4th quarter valued at $14,771,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Axsome Therapeutics by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company’s stock valued at $27,755,000 after acquiring an additional 5,438 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.