Axsome Therapeutics (NASDAQ:AXSM) Given New $131.00 Price Target at Royal Bank of Canada

Axsome Therapeutics (NASDAQ:AXSM) had its price target raised by Royal Bank of Canada from $130.00 to $131.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 48.46% from the stock’s current price.

Several other equities research analysts also recently weighed in on AXSM. HC Wainwright reaffirmed a “buy” rating and issued a $180.00 target price on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 target price on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $95.00 to $106.00 in a research report on Tuesday, August 6th. UBS Group cut their price target on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Mizuho reiterated a “buy” rating and issued a $106.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, June 12th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.64.

Axsome Therapeutics Trading Down 3.2 %

AXSM stock traded down $2.94 during trading on Friday, reaching $88.24. 383,357 shares of the stock traded hands, compared to its average volume of 640,032. The business’s 50 day moving average price is $89.04 and its 200-day moving average price is $80.75. Axsome Therapeutics has a 52-week low of $55.02 and a 52-week high of $98.40. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.48 and a quick ratio of 2.40. The firm has a market capitalization of $4.19 billion, a PE ratio of -13.83 and a beta of 1.25.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, topping the consensus estimate of ($1.30) by $0.06. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. The company had revenue of $87.17 million during the quarter, compared to the consensus estimate of $84.53 million. As a group, sell-side analysts forecast that Axsome Therapeutics will post -4.73 earnings per share for the current year.

Insider Transactions at Axsome Therapeutics

In other news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the sale, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the transaction, the director now directly owns 10,002 shares of the company’s stock, valued at $913,282.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Mark L. Jacobson sold 47,739 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $84.26, for a total value of $4,022,488.14. Following the completion of the transaction, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at $487,275.58. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Perceptive Advisors LLC boosted its stake in shares of Axsome Therapeutics by 115.5% during the 4th quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock worth $82,616,000 after acquiring an additional 556,370 shares in the last quarter. Sofinnova Investments Inc. purchased a new stake in shares of Axsome Therapeutics in the second quarter valued at $24,971,000. Point72 Asset Management L.P. lifted its holdings in shares of Axsome Therapeutics by 57.4% in the fourth quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock valued at $66,633,000 after purchasing an additional 305,264 shares in the last quarter. Tri Locum Partners LP lifted its holdings in shares of Axsome Therapeutics by 198.4% in the second quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock valued at $24,674,000 after purchasing an additional 203,802 shares in the last quarter. Finally, Avidity Partners Management LP lifted its holdings in shares of Axsome Therapeutics by 54.8% in the fourth quarter. Avidity Partners Management LP now owns 459,400 shares of the company’s stock valued at $36,564,000 after purchasing an additional 162,600 shares in the last quarter. 81.49% of the stock is owned by institutional investors.

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.