Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $190.00 at Morgan Stanley

Axsome Therapeutics (NASDAQ:AXSM) had its price objective upped by Morgan Stanley from $125.00 to $190.00 in a research report released on Thursday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

AXSM has been the topic of several other research reports. Robert W. Baird set a $132.00 target price on shares of Axsome Therapeutics in a report on Monday, February 3rd. Royal Bank of Canada raised their target price on shares of Axsome Therapeutics from $143.00 to $192.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $153.00 target price on shares of Axsome Therapeutics in a report on Wednesday, February 19th. HC Wainwright raised their target price on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, Needham & Company LLC raised their target price on shares of Axsome Therapeutics from $133.00 to $153.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $165.36.

Axsome Therapeutics Trading Down 1.5 %

NASDAQ AXSM opened at $126.41 on Thursday. The firm has a 50 day simple moving average of $103.53 and a 200-day simple moving average of $95.85. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. Axsome Therapeutics has a one year low of $64.11 and a one year high of $139.13. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of -21.10 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The business had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. Equities research analysts anticipate that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Transactions at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the transaction, the chief financial officer now owns 42,187 shares of the company’s stock, valued at $5,529,450.09. The trade was a 6.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AXSM. BVF Inc. IL raised its stake in Axsome Therapeutics by 32.7% in the 4th quarter. BVF Inc. IL now owns 1,388,064 shares of the company’s stock valued at $117,444,000 after purchasing an additional 342,064 shares during the last quarter. FMR LLC raised its stake in Axsome Therapeutics by 20.6% in the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after purchasing an additional 185,951 shares during the last quarter. Geode Capital Management LLC raised its stake in Axsome Therapeutics by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 912,538 shares of the company’s stock valued at $77,228,000 after purchasing an additional 4,079 shares during the last quarter. Wellington Management Group LLP raised its stake in Axsome Therapeutics by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock valued at $66,750,000 after purchasing an additional 8,125 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Axsome Therapeutics by 10.8% in the 4th quarter. Invesco Ltd. now owns 692,464 shares of the company’s stock valued at $58,589,000 after purchasing an additional 67,285 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

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.