Royal Bank of Canada Increases Axsome Therapeutics (NASDAQ:AXSM) Price Target to $192.00

Axsome Therapeutics (NASDAQ:AXSM) had its price target increased by equities research analysts at Royal Bank of Canada from $143.00 to $192.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 50.69% from the stock’s current price.

A number of other equities analysts have also recently commented on AXSM. Mizuho lifted their price objective on shares of Axsome Therapeutics from $137.00 to $195.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $121.00 target price on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Robert W. Baird boosted their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Bank of America increased their price objective on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, Needham & Company LLC increased their price objective on shares of Axsome Therapeutics from $133.00 to $153.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.13.

Axsome Therapeutics Stock Down 0.5 %

Shares of NASDAQ AXSM traded down $0.68 during midday trading on Wednesday, reaching $127.42. The company’s stock had a trading volume of 126,920 shares, compared to its average volume of 1,078,651. 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 has a fifty-two week low of $64.11 and a fifty-two week high of $134.18. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of -19.51 and a beta of 1.05. The stock has a 50 day simple moving average of $98.47 and a 200-day simple moving average of $93.68.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, beating the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The business had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $117.83 million. Equities research analysts predict that Axsome Therapeutics will post -4.59 earnings per share for the current year.

Insider Activity at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction on Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the sale, the chief financial officer now owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 22.40% of the stock is currently owned by insiders.

Institutional Trading of Axsome Therapeutics

Several hedge funds have recently bought and sold shares of AXSM. Raiffeisen Bank International AG acquired a new stake in Axsome Therapeutics in the 4th quarter valued at $51,000. Assetmark Inc. acquired a new stake in Axsome Therapeutics in the 4th quarter valued at $52,000. R Squared Ltd bought a new position in Axsome Therapeutics during the 4th quarter valued at $64,000. Aquatic Capital Management LLC bought a new position in Axsome Therapeutics during the 4th quarter valued at $76,000. Finally, GF Fund Management CO. LTD. bought a new position in Axsome Therapeutics during the 4th quarter valued at $86,000. 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.