Axsome Therapeutics (NASDAQ:AXSM) Given New $180.00 Price Target at Truist Financial

Axsome Therapeutics (NASDAQ:AXSM) had its price target upped by Truist Financial from $150.00 to $180.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the company. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. HC Wainwright reissued a “buy” rating on shares of Axsome Therapeutics in a research report on Tuesday, December 31st. Royal Bank of Canada raised their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Robert W. Baird boosted their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Mizuho dropped their price objective on shares of Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 31st. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $129.43.

Axsome Therapeutics Stock Up 10.8 %

NASDAQ AXSM opened at $93.75 on Monday. The business’s fifty day simple moving average is $92.18 and its 200-day simple moving average is $89.28. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The firm has a market cap of $4.54 billion, a PE ratio of -14.36 and a beta of 1.04. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.38) by $0.04. The firm had revenue of $104.76 million during 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 last year, the business earned ($1.32) earnings per share. As a group, equities analysts anticipate that Axsome Therapeutics will post -4.6 earnings per share for the current year.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in shares of Axsome Therapeutics by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock worth $19,062,000 after purchasing an additional 27,534 shares in the last quarter. PDT Partners LLC purchased a new position in Axsome Therapeutics during the 3rd quarter worth approximately $1,052,000. Pallas Capital Advisors LLC purchased a new position in Axsome Therapeutics during the 4th quarter worth approximately $2,237,000. Captrust Financial Advisors acquired a new position in Axsome Therapeutics during the third quarter worth approximately $514,000. Finally, BNP Paribas Financial Markets lifted its stake in Axsome Therapeutics by 71.7% in the third quarter. BNP Paribas Financial Markets now owns 13,733 shares of the company’s stock valued at $1,234,000 after buying an additional 5,737 shares during the last quarter. 81.49% of the stock is owned by hedge funds and other 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.