SVB Leerink Increases Axsome Therapeutics (NASDAQ:AXSM) Price Target to $85.00

Axsome Therapeutics (NASDAQ:AXSM – Get Rating) had its price target raised by SVB Leerink from $65.00 to $85.00 in a research report report published on Tuesday, Stock Target Advisor reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. HC Wainwright reissued a buy rating and issued a $210.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, October 4th. Guggenheim lifted their target price on shares of Axsome Therapeutics from $72.00 to $80.00 and gave the stock a buy rating in a research note on Friday, November 11th. Cowen lowered their target price on shares of Axsome Therapeutics to $125.00 in a research note on Wednesday, October 5th. Loop Capital assumed coverage on shares of Axsome Therapeutics in a research note on Tuesday, November 1st. They set a buy rating and a $95.00 target price on the stock. Finally, Morgan Stanley lowered their target price on shares of Axsome Therapeutics from $74.00 to $73.00 and set an equal weight rating on the stock in a research note on Tuesday, November 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $111.55.

Axsome Therapeutics Stock Performance

AXSM opened at $71.97 on Tuesday. Axsome Therapeutics has a 12-month low of $20.63 and a 12-month high of $79.68. The company has a current ratio of 4.19, a quick ratio of 4.15 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $3.13 billion, a PE ratio of -17.73 and a beta of 1.75. The firm has a 50 day moving average of $51.32 and a two-hundred day moving average of $45.27.

Institutional Trading of Axsome Therapeutics

Large investors have recently made changes to their positions in the stock. Fairmount Funds Management LLC boosted its stake in Axsome Therapeutics by 402.4% in the 1st quarter. Fairmount Funds Management LLC now owns 942,571 shares of the company’s stock worth $39,013,000 after buying an additional 754,973 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Axsome Therapeutics by 1,379.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 617,900 shares of the company’s stock worth $27,571,000 after purchasing an additional 576,125 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Axsome Therapeutics by 549.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 377,337 shares of the company’s stock worth $14,452,000 after acquiring an additional 319,200 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Axsome Therapeutics by 11.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,111,500 shares of the company’s stock worth $138,835,000 after acquiring an additional 309,362 shares in the last quarter. Finally, PFM Health Sciences LP boosted its position in Axsome Therapeutics by 22.0% during the 3rd quarter. PFM Health Sciences LP now owns 1,659,733 shares of the company’s stock valued at $74,057,000 after purchasing an additional 299,137 shares during the period. Institutional investors and hedge funds own 54.96% of the company’s stock.

Axsome Therapeutics Company Profile

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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 product pipeline includes AXS-05, a therapeutic for the treatment of major depressive disorder and resistant depression disorders; and that is in the Phase III clinical trial to treat Alzheimer's disease agitation, as well as that has completed phase II clinical trial for the treatment of smoking cessation.