Axsome Therapeutics (NASDAQ:AXSM) PT Lowered to $130.00 at Royal Bank of Canada

Axsome Therapeutics (NASDAQ:AXSM) had its price objective decreased by Royal Bank of Canada from $131.00 to $130.00 in a report released on Tuesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other analysts also recently issued reports about the stock. Bank of America upgraded shares of Axsome Therapeutics from a neutral rating to a buy rating and lifted their price objective for the company from $95.00 to $106.00 in a report on Tuesday. Robert W. Baird boosted their price target on shares of Axsome Therapeutics from $108.00 to $112.00 and gave the stock an outperform rating in a research report on Tuesday, May 7th. HC Wainwright decreased their price objective on Axsome Therapeutics from $190.00 to $180.00 and set a buy rating for the company in a report on Tuesday. Citigroup dropped their target price on Axsome Therapeutics from $127.00 to $125.00 and set a buy rating on the stock in a report on Tuesday, May 7th. Finally, Needham & Company LLC restated a buy rating and issued a $130.00 price target on shares of Axsome Therapeutics in a research note on Monday. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $123.38.

Axsome Therapeutics Price Performance

AXSM stock opened at $85.00 on Tuesday. The stock has a 50-day moving average price of $79.95 and a two-hundred day moving average price of $79.41. Axsome Therapeutics has a 1 year low of $55.02 and a 1 year high of $98.40. The stock has a market cap of $4.04 billion, a PE ratio of -13.32 and a beta of 1.26. The company has a current ratio of 3.20, a quick ratio of 3.09 and a debt-to-equity ratio of 1.25.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, May 6th. The company reported ($1.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.11. The business had revenue of $75.00 million during the quarter, compared to the consensus estimate of $69.91 million. Axsome Therapeutics had a negative return on equity of 87.17% and a negative net margin of 118.07%. Equities analysts forecast that Axsome Therapeutics will post -4.65 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 7,910 shares of Axsome Therapeutics stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $74.31, for a total transaction of $587,792.10. Following the completion of the transaction, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at $429,734.73. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Mark Coleman sold 5,249 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.21, for a total transaction of $394,777.29. Following the transaction, the director now owns 19,848 shares in the company, valued at $1,492,768.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Mark L. Jacobson sold 7,910 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total value of $587,792.10. Following the sale, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at $429,734.73. The disclosure for this sale can be found here. 22.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Avidity Partners Management LP boosted its position in shares of Axsome Therapeutics by 54.8% in the fourth quarter. Avidity Partners Management LP now owns 459,400 shares of the company’s stock valued at $36,564,000 after acquiring an additional 162,600 shares during the period. Phocas Financial Corp. acquired a new stake in Axsome Therapeutics in the 4th quarter worth about $2,140,000. Jump Financial LLC bought a new stake in Axsome Therapeutics in the 4th quarter valued at about $669,000. Vanguard Group Inc. boosted its holdings in Axsome Therapeutics by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock valued at $298,474,000 after purchasing an additional 43,512 shares during the period. Finally, Bellevue Group AG grew its position in shares of Axsome Therapeutics by 7.9% during the 1st quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock worth $54,701,000 after purchasing an additional 50,104 shares in 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.