Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $167.00

Axsome Therapeutics (NASDAQ:AXSM) had its target price upped by Bank of America from $143.00 to $167.00 in a report released on Tuesday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Truist Financial lifted their target price on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Robert W. Baird lifted their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and set a $190.00 target price on shares of Axsome Therapeutics in a research note on Tuesday. Finally, Mizuho lifted their target price on shares of Axsome Therapeutics from $137.00 to $195.00 and gave the company an “outperform” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Axsome Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $147.13.

Axsome Therapeutics Trading Up 0.1 %

Axsome Therapeutics stock opened at $131.68 on Tuesday. The company has a 50 day moving average price of $96.55 and a 200 day moving average price of $92.67. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $134.18. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of -20.17 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data 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 net margin of 91.87% and a negative return on equity of 158.36%. The firm had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. During the same quarter last year, the business posted ($1.32) EPS. Research analysts forecast that Axsome Therapeutics will post -4.7 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Assetmark Inc. bought a new position in shares of Axsome Therapeutics during the 4th quarter valued at $52,000. R Squared Ltd bought a new position in Axsome Therapeutics in the 4th quarter worth $64,000. KBC Group NV raised its holdings in Axsome Therapeutics by 40.5% in the 4th quarter. KBC Group NV now owns 1,336 shares of the company’s stock worth $113,000 after acquiring an additional 385 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Axsome Therapeutics by 22.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after acquiring an additional 318 shares during the period. Finally, Moors & Cabot Inc. bought a new position in Axsome Therapeutics in the 3rd quarter worth $200,000. 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.