Axsome Therapeutics’ (AXSM) “Buy” Rating Reaffirmed at Truist Financial

Truist Financial reiterated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research report released on Tuesday morning, Benzinga reports. They currently have a $150.00 price objective on the stock.

A number of other equities analysts have also recently weighed in on AXSM. UBS Group began coverage on Axsome Therapeutics in a research note on Tuesday, February 6th. They issued a buy rating and a $111.00 price target on the stock. Mizuho reduced their target price on Axsome Therapeutics from $112.00 to $108.00 and set a buy rating for the company in a report on Tuesday, February 27th. Robert W. Baird assumed coverage on Axsome Therapeutics in a report on Tuesday, March 19th. They set an outperform rating and a $108.00 price target for the company. Royal Bank of Canada upped their price target on Axsome Therapeutics from $123.00 to $128.00 and gave the stock an outperform rating in a report on Tuesday. Finally, Cantor Fitzgerald restated an overweight rating and set a $108.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Axsome Therapeutics currently has an average rating of Moderate Buy and a consensus price target of $119.67.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $76.72 on Tuesday. The company has a quick ratio of 3.52, a current ratio of 3.63 and a debt-to-equity ratio of 0.93. The firm’s 50-day simple moving average is $84.23 and its 200 day simple moving average is $75.26. Axsome Therapeutics has a fifty-two week low of $55.02 and a fifty-two week high of $98.40. The stock has a market cap of $3.63 billion, a P/E ratio of -14.75 and a beta of 1.17.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($1.21) by $0.48. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. The firm had revenue of $71.53 million for the quarter, compared to analysts’ expectations of $70.38 million. Equities analysts expect that Axsome Therapeutics will post -3.71 EPS for the current year.

Insider Transactions at Axsome Therapeutics

In other news, Director Roger Jeffs sold 29,976 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the transaction, the director now owns 120,756 shares of the company’s stock, valued at $8,416,693.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 24.50% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Several large investors have recently made changes to their positions in AXSM. Wellington Management Group LLP lifted its stake in Axsome Therapeutics by 1.0% in the fourth quarter. Wellington Management Group LLP now owns 239,819 shares of the company’s stock valued at $19,087,000 after buying an additional 2,265 shares during the period. American International Group Inc. raised its position in shares of Axsome Therapeutics by 0.9% during the fourth quarter. American International Group Inc. now owns 17,721 shares of the company’s stock worth $1,410,000 after purchasing an additional 162 shares during the period. Perceptive Advisors LLC raised its position in shares of Axsome Therapeutics by 115.5% during the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock worth $82,616,000 after purchasing an additional 556,370 shares during the period. Sierra Summit Advisors LLC acquired a new stake in shares of Axsome Therapeutics during the fourth quarter worth about $734,000. Finally, Price T Rowe Associates Inc. MD raised its position in Axsome Therapeutics by 548.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 146,557 shares of the company’s stock valued at $11,665,000 after buying an additional 123,949 shares during the last quarter. Institutional investors and hedge funds 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.