Axsome Therapeutics (NASDAQ:AXSM) Stock Price Expected to Rise, Truist Financial Analyst Says

Axsome Therapeutics (NASDAQ:AXSM) had its price objective boosted by Truist Financial from $150.00 to $180.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently issued reports on AXSM. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $121.00 price target on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Robert W. Baird increased their price objective on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating on shares of Axsome Therapeutics in a research note on Tuesday, December 31st. Finally, Royal Bank of Canada raised their price target on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $129.43.

Axsome Therapeutics Trading Up 11.5 %

Axsome Therapeutics stock opened at $89.27 on Monday. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $105.00. The business’s fifty day simple moving average is $92.21 and its two-hundred day simple moving average is $89.22. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of -13.67 and a beta of 1.04.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The firm had revenue of $104.76 million for the quarter, compared to the consensus estimate of $98.71 million. During the same period last year, the firm earned ($1.32) EPS. As a group, equities analysts predict that Axsome Therapeutics will post -4.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Axsome Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Arizona State Retirement System increased its stake in Axsome Therapeutics by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock valued at $695,000 after purchasing an additional 177 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Axsome Therapeutics by 22.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after purchasing an additional 318 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Axsome Therapeutics during the 2nd quarter worth about $27,000. WCM Investment Management LLC raised its stake in shares of Axsome Therapeutics by 0.3% during the 3rd quarter. WCM Investment Management LLC now owns 113,692 shares of the company’s stock valued at $10,191,000 after buying an additional 347 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Axsome Therapeutics by 0.3% in the 3rd quarter. US Bancorp DE now owns 133,126 shares of the company’s stock valued at $11,964,000 after buying an additional 421 shares during the period. 81.49% of the stock is currently 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.