Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives $122.08 Average Price Target from Analysts

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have been given a consensus recommendation of “Moderate Buy” by the thirteen research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $122.08.

Several equities analysts have commented on AXSM shares. HC Wainwright reissued a “buy” rating and set a $190.00 target price on shares of Axsome Therapeutics in a research report on Thursday, June 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, April 10th. Morgan Stanley raised Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $90.00 to $115.00 in a report on Monday, April 29th. Mizuho reissued a “buy” rating and issued a $106.00 target price on shares of Axsome Therapeutics in a research note on Wednesday, June 12th. Finally, Citigroup reduced their price target on shares of Axsome Therapeutics from $127.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th.

Insider Activity at Axsome Therapeutics

In other news, Director Mark Coleman sold 5,249 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.21, for a total transaction of $394,777.29. Following the transaction, the director now owns 19,848 shares in the company, valued at $1,492,768.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO Mark L. Jacobson sold 7,910 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $74.31, for a total value of $587,792.10. Following the completion of the transaction, the chief operating officer now owns 5,783 shares of the company’s stock, valued at approximately $429,734.73. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark Coleman sold 5,249 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $75.21, for a total value of $394,777.29. Following the sale, the director now owns 19,848 shares in the company, valued at $1,492,768.08. The disclosure for this sale can be found here. 22.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Axsome Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Washington Trust Advisors Inc. acquired a new position in shares of Axsome Therapeutics during the fourth quarter worth approximately $26,000. EntryPoint Capital LLC bought a new position in Axsome Therapeutics in the 1st quarter valued at about $35,000. Russell Investments Group Ltd. boosted its stake in Axsome Therapeutics by 5,550.0% during the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after purchasing an additional 777 shares during the last quarter. Covestor Ltd increased its holdings in Axsome Therapeutics by 54,750.0% during the 1st quarter. Covestor Ltd now owns 1,097 shares of the company’s stock worth $88,000 after purchasing an additional 1,095 shares in the last quarter. Finally, Janiczek Wealth Management LLC purchased a new stake in shares of Axsome Therapeutics in the first quarter worth approximately $97,000. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Stock Up 0.7 %

Shares of NASDAQ:AXSM opened at $81.03 on Friday. The company has a market cap of $3.85 billion, a PE ratio of -12.70 and a beta of 1.26. The firm has a 50 day simple moving average of $75.18 and a 200 day simple moving average of $78.82. The company has a debt-to-equity ratio of 1.25, a quick ratio of 3.09 and a current ratio of 3.20. Axsome Therapeutics has a 52 week low of $55.02 and a 52 week high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Monday, May 6th. The company reported ($1.09) EPS for the quarter, beating the consensus estimate of ($1.20) by $0.11. Axsome Therapeutics had a negative net margin of 118.07% and a negative return on equity of 87.17%. The business had revenue of $75.00 million for the quarter, compared to analysts’ expectations of $69.91 million. As a group, research analysts expect that Axsome Therapeutics will post -4.7 earnings per share for the current year.

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.