Axsome Therapeutics (NASDAQ:AXSM) had its target price lifted by equities research analysts at Guggenheim from $65.00 to $48.00 in a research report issued on Wednesday, The Fly reports. Guggenheim’s price target suggests a potential upside of 1.20% from the company’s current price.
Several other equities research analysts have also recently commented on AXSM. SunTrust Banks boosted their price target on shares of Axsome Therapeutics to $60.00 and gave the stock a “positive” rating in a research report on Wednesday. Cantor Fitzgerald raised their price objective on Axsome Therapeutics from $45.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday. BidaskClub raised Axsome Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 20th. Zacks Investment Research raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th. Finally, ValuEngine lowered Axsome Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Axsome Therapeutics presently has an average rating of “Buy” and a consensus price target of $42.67.
Shares of NASDAQ AXSM traded up $1.82 during midday trading on Wednesday, reaching $47.43. The company’s stock had a trading volume of 1,348,848 shares, compared to its average volume of 941,955. The stock has a 50 day simple moving average of $27.72 and a 200-day simple moving average of $25.21. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 2.80. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -41.24 and a beta of 2.84. Axsome Therapeutics has a fifty-two week low of $1.94 and a fifty-two week high of $47.24.
Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by ($0.15). As a group, equities analysts anticipate that Axsome Therapeutics will post -1.7 EPS for the current year.
In other news, CFO Nick Pizzie purchased 2,180 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were purchased at an average cost of $24.80 per share, with a total value of $54,064.00. Following the completion of the transaction, the chief financial officer now owns 40,440 shares of the company’s stock, valued at approximately $1,002,912. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 27.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of AXSM. Quantitative Systematic Strategies LLC bought a new stake in Axsome Therapeutics in the second quarter valued at approximately $257,000. Virginia Retirement Systems ET AL bought a new stake in Axsome Therapeutics in the 2nd quarter valued at $379,000. Moody Aldrich Partners LLC acquired a new position in Axsome Therapeutics in the 2nd quarter valued at $1,843,000. SG Americas Securities LLC acquired a new position in Axsome Therapeutics in the 2nd quarter valued at $167,000. Finally, Janney Montgomery Scott LLC grew its holdings in Axsome Therapeutics by 56.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 27,525 shares of the company’s stock valued at $709,000 after buying an additional 9,950 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.
About Axsome Therapeutics
Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in developing novel therapies for central nervous system (CNS) disorders in the United States. Its product pipeline includes AXS-05, which is in the Phase III clinical trial for the treatment resistant depression; Phase II/III clinical trials in agitation associated with Alzheimer's disease; and Phase II clinical trial for the treatment of smoking cessation, as well as for major depressive disorder.
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