Axsome Therapeutics (NASDAQ:AXSM) Given New $160.00 Price Target at Wells Fargo & Company

Axsome Therapeutics (NASDAQ:AXSM) had its price objective lifted by Wells Fargo & Company from $140.00 to $160.00 in a research report report published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other analysts have also weighed in on AXSM. Cantor Fitzgerald restated an “overweight” rating and issued a $121.00 target price on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $133.00 target price on shares of Axsome Therapeutics in a research note on Monday. HC Wainwright reiterated a “buy” rating and set a $190.00 target price on shares of Axsome Therapeutics in a research report on Tuesday. Mizuho raised their price target on shares of Axsome Therapeutics from $137.00 to $195.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, William Blair reaffirmed an “outperform” rating on shares of Axsome Therapeutics in a report on Friday, January 24th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Axsome Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $147.13.

Axsome Therapeutics Price Performance

NASDAQ:AXSM opened at $131.55 on Wednesday. The firm has a market cap of $6.37 billion, a PE ratio of -20.15 and a beta of 1.05. The company’s 50-day moving average price is $96.55 and its two-hundred day moving average price is $92.67. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $134.18.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The business had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. During the same period in the prior year, the company earned ($1.32) EPS. On average, equities analysts anticipate that Axsome Therapeutics will post -4.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pitcairn Co. increased its stake in Axsome Therapeutics by 3.4% in the fourth quarter. Pitcairn Co. now owns 4,562 shares of the company’s stock valued at $386,000 after purchasing an additional 148 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Axsome Therapeutics in the 4th quarter valued at $1,195,000. Geode Capital Management LLC raised its stake in Axsome Therapeutics by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 912,538 shares of the company’s stock worth $77,228,000 after buying an additional 4,079 shares during the period. Franklin Resources Inc. lifted its holdings in Axsome Therapeutics by 13.6% during the fourth quarter. Franklin Resources Inc. now owns 182,290 shares of the company’s stock worth $15,424,000 after acquiring an additional 21,756 shares in the last quarter. Finally, Intrust Bank NA grew its stake in Axsome Therapeutics by 6.9% in the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company’s stock valued at $239,000 after acquiring an additional 183 shares during the period. Institutional investors 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.