Robert W. Baird Issues Positive Forecast for Axsome Therapeutics (NASDAQ:AXSM) Stock Price

Axsome Therapeutics (NASDAQ:AXSM) had its target price lifted by Robert W. Baird from $112.00 to $116.00 in a research note published on Wednesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other equities research analysts have also issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $130.00 target price on shares of Axsome Therapeutics in a report on Tuesday, November 12th. UBS Group dropped their target price on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. HC Wainwright reissued a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $95.00 to $106.00 in a research report on Tuesday, August 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 target price on shares of Axsome Therapeutics in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Axsome Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $124.93.

Axsome Therapeutics Stock Down 4.3 %

NASDAQ AXSM opened at $93.17 on Wednesday. The stock has a 50 day moving average price of $90.66 and a 200-day moving average price of $84.35. Axsome Therapeutics has a one year low of $56.66 and a one year high of $105.00. The company has a market capitalization of $4.52 billion, a P/E ratio of -14.27 and a beta of 1.26. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.40 and a current ratio of 2.44.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.38) by $0.04. The firm had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same period in the prior year, the company earned ($1.32) EPS. As a group, equities analysts predict that Axsome Therapeutics will post -5.04 EPS for the current fiscal year.

Insider Activity

In related news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the transaction, the director now owns 10,002 shares in the company, valued at $913,282.62. The trade was a 52.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Sofinnova Investments Inc. acquired a new stake in shares of Axsome Therapeutics during the second quarter worth about $24,971,000. Iron Triangle Partners LP acquired a new stake in Axsome Therapeutics during the 3rd quarter valued at approximately $22,671,000. Tri Locum Partners LP boosted its holdings in shares of Axsome Therapeutics by 198.4% in the 2nd quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock valued at $24,674,000 after acquiring an additional 203,802 shares during the last quarter. FMR LLC increased its stake in shares of Axsome Therapeutics by 20.6% in the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after acquiring an additional 185,951 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Axsome Therapeutics in the first quarter worth $11,036,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

About Axsome Therapeutics

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.