Royal Bank of Canada Reiterates Outperform Rating for Axsome Therapeutics (NASDAQ:AXSM)

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank of Canada in a report issued on Wednesday,Benzinga reports. They presently have a $139.00 price target on the stock. Royal Bank of Canada’s price target points to a potential upside of 32.29% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $121.00 target price on shares of Axsome Therapeutics in a report on Thursday, December 12th. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Truist Financial upped their target price on shares of Axsome Therapeutics from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, January 13th. HC Wainwright reissued a “buy” rating and issued a $180.00 target price on shares of Axsome Therapeutics in a report on Tuesday, January 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $133.00 price objective on shares of Axsome Therapeutics in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.31.

Axsome Therapeutics Price Performance

Shares of AXSM stock traded up $2.62 during trading hours on Wednesday, reaching $105.08. The stock had a trading volume of 169,604 shares, compared to its average volume of 947,675. The firm has a market capitalization of $5.09 billion, a PE ratio of -16.09 and a beta of 1.04. 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 stock’s fifty day simple moving average is $92.99 and its 200 day simple moving average is $90.41. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $105.64.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping the consensus estimate of ($1.38) by $0.04. The company had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same quarter in the previous year, the firm earned ($1.32) earnings per share. On average, equities research analysts predict that Axsome Therapeutics will post -4.73 EPS for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

Large investors have recently bought and sold shares of the business. Sei Investments Co. boosted its holdings in shares of Axsome Therapeutics by 13.9% in the 2nd quarter. Sei Investments Co. now owns 40,624 shares of the company’s stock valued at $3,270,000 after buying an additional 4,970 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Axsome Therapeutics in the 2nd quarter worth $849,000. The Manufacturers Life Insurance Company increased its position in Axsome Therapeutics by 4.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,901 shares of the company’s stock valued at $1,844,000 after buying an additional 999 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Axsome Therapeutics during the second quarter worth about $250,000. Finally, Creative Planning raised its position in shares of Axsome Therapeutics by 15.9% in the 2nd quarter. Creative Planning now owns 8,365 shares of the company’s stock valued at $673,000 after purchasing an additional 1,149 shares during the last quarter. Institutional investors 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.