Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $180.00

Axsome Therapeutics (NASDAQ:AXSM) had its price target raised by Truist Financial from $150.00 to $180.00 in a report published on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also commented on AXSM. Mizuho dropped their target price on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a report on Tuesday, December 31st. HC Wainwright reaffirmed a “buy” rating on shares of Axsome Therapeutics in a report on Tuesday, December 31st. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Cantor Fitzgerald restated an “overweight” rating and set a $121.00 price target on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $133.00 price objective on shares of Axsome Therapeutics in a research report on Monday, January 6th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $129.43.

Axsome Therapeutics Stock Up 10.8 %

AXSM stock opened at $93.75 on Monday. The company has a market capitalization of $4.54 billion, a P/E ratio of -14.36 and a beta of 1.04. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $105.00. The firm’s fifty day simple moving average is $92.18 and its 200-day simple moving average is $89.28. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.38) by $0.04. The company had revenue of $104.76 million for 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 in the prior year, the company earned ($1.32) earnings per share. As a group, equities research analysts forecast that Axsome Therapeutics will post -4.6 earnings per share for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

A number of hedge funds have recently made changes to their positions in AXSM. Rhumbline Advisers boosted its stake in shares of Axsome Therapeutics by 5.1% in the second quarter. Rhumbline Advisers now owns 54,931 shares of the company’s stock worth $4,422,000 after acquiring an additional 2,674 shares during the last quarter. Arizona State Retirement System lifted its holdings in Axsome Therapeutics by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock valued at $695,000 after purchasing an additional 177 shares in the last quarter. WINTON GROUP Ltd boosted its stake in Axsome Therapeutics by 156.6% during the 2nd quarter. WINTON GROUP Ltd now owns 8,823 shares of the company’s stock worth $710,000 after purchasing an additional 5,385 shares during the last quarter. Sofinnova Investments Inc. purchased a new stake in shares of Axsome Therapeutics during the second quarter worth $24,971,000. Finally, XTX Topco Ltd raised its position in shares of Axsome Therapeutics by 177.9% in the second quarter. XTX Topco Ltd now owns 11,205 shares of the company’s stock valued at $902,000 after buying an additional 7,173 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

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.