Axsome Therapeutics (NASDAQ:AXSM) Stock Price Expected to Rise, Bank of America Analyst Says

Axsome Therapeutics (NASDAQ:AXSM) had its target price boosted by investment analysts at Bank of America from $143.00 to $167.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price suggests a potential upside of 26.95% from the company’s current price.

AXSM has been the subject of several other reports. Truist Financial lifted their target price on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a report on Monday, February 3rd. HC Wainwright reissued a “buy” rating and issued a $190.00 price target on shares of Axsome Therapeutics in a research note on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $139.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, January 29th. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, William Blair reaffirmed an “outperform” rating on shares of Axsome Therapeutics in a research report on Friday, January 24th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $147.13.

Axsome Therapeutics Stock Down 0.5 %

Shares of NASDAQ:AXSM opened at $131.55 on Tuesday. The stock has a market cap of $6.37 billion, a P/E ratio of -20.15 and a beta of 1.05. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. Axsome Therapeutics has a 52-week low of $64.11 and a 52-week high of $134.18. The business’s 50 day moving average is $96.55 and its 200 day moving average is $92.67.

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. The firm had revenue of $104.76 million during the quarter, compared to analyst estimates 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 last year, the firm posted ($1.32) EPS. Sell-side analysts predict that Axsome Therapeutics will post -4.7 EPS for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

Hedge funds have recently modified their holdings of the stock. FMR LLC increased its holdings in 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 buying an additional 185,951 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Axsome Therapeutics by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 912,538 shares of the company’s stock worth $77,228,000 after purchasing an additional 4,079 shares during the last quarter. Wellington Management Group LLP increased its position in Axsome Therapeutics by 1.1% during the third quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock worth $66,750,000 after acquiring an additional 8,125 shares during the period. Norges Bank acquired a new position in shares of Axsome Therapeutics during the fourth quarter valued at about $34,100,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Axsome Therapeutics by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company’s stock valued at $27,755,000 after acquiring an additional 5,438 shares in the last quarter. 81.49% of the stock is 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.