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

Axsome Therapeutics (NASDAQ:AXSM) had its price target lifted by Truist Financial from $180.00 to $190.00 in a research report released on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

AXSM has been the topic of several other reports. Mizuho lowered their price objective on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 31st. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. HC Wainwright lifted their price objective on Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a report on Friday, January 31st. Needham & Company LLC restated a “buy” rating and issued a $133.00 target price on shares of Axsome Therapeutics in a research note on Monday, January 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $139.00 target price on shares of Axsome Therapeutics in a research report on Wednesday, January 29th. One 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $134.00.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM opened at $114.00 on Monday. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of -17.46 and a beta of 1.05. Axsome Therapeutics has a one year low of $64.11 and a one year high of $114.00. The business has a fifty day simple moving average of $94.37 and a 200 day simple moving average of $91.43. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. During the same quarter in the prior year, the company posted ($1.32) EPS. Sell-side analysts expect that Axsome Therapeutics will post -4.72 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. IFP Advisors Inc increased its stake in shares of Axsome Therapeutics by 36.2% in the 4th quarter. IFP Advisors Inc now owns 67,839 shares of the company’s stock valued at $5,740,000 after buying an additional 18,038 shares during the period. New York State Common Retirement Fund boosted its holdings in Axsome Therapeutics by 64.8% in the fourth quarter. New York State Common Retirement Fund now owns 22,491 shares of the company’s stock valued at $1,903,000 after acquiring an additional 8,843 shares during the last quarter. Peregrine Capital Management LLC increased its position in Axsome Therapeutics by 21.2% in the fourth quarter. Peregrine Capital Management LLC now owns 87,187 shares of the company’s stock worth $7,377,000 after purchasing an additional 15,258 shares during the period. Principal Financial Group Inc. raised its holdings in Axsome Therapeutics by 6,002.7% during the 4th quarter. Principal Financial Group Inc. now owns 207,065 shares of the company’s stock worth $17,520,000 after purchasing an additional 203,672 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in Axsome Therapeutics during the 4th quarter valued at about $2,599,000. 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.