Truist Financial Raises Axsome Therapeutics (NASDAQ:AXSM) Price Target to $200.00

Axsome Therapeutics (NASDAQ:AXSM) had its price target lifted by research analysts at Truist Financial from $190.00 to $200.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 59.45% from the company’s previous close.

AXSM has been the subject of a number of other research reports. Bank of America lifted their price target 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. Needham & Company LLC raised their price target on Axsome Therapeutics from $133.00 to $153.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Mizuho lifted their target price on Axsome Therapeutics from $137.00 to $195.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Finally, HC Wainwright restated a “buy” rating and issued a $190.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, February 11th. One investment 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.80.

Axsome Therapeutics Price Performance

Shares of Axsome Therapeutics stock traded down $2.66 during trading hours on Wednesday, reaching $125.43. 271,363 shares of the company’s stock were exchanged, compared to its average volume of 1,083,579. 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 1 year low of $64.11 and a 1 year high of $134.18. The business has a fifty day moving average of $98.47 and a two-hundred day moving average of $93.68. The company has a market capitalization of $6.08 billion, a P/E ratio of -19.21 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. As a group, research analysts predict that Axsome Therapeutics will post -4.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares in the company, valued at $5,529,450.09. This represents a 6.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 22.40% of the stock is currently owned by insiders.

Institutional Trading of Axsome Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new stake in shares of Axsome Therapeutics during the 4th quarter worth $86,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new stake in Axsome Therapeutics during the 4th quarter worth $2,853,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Axsome Therapeutics by 20.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,642 shares of the company’s stock valued at $4,877,000 after buying an additional 9,928 shares during the last quarter. Woodline Partners LP lifted its position in shares of Axsome Therapeutics by 36.8% during the fourth quarter. Woodline Partners LP now owns 408,441 shares of the company’s stock worth $34,558,000 after purchasing an additional 109,872 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Axsome Therapeutics by 85.3% during the fourth quarter. Two Sigma Advisers LP now owns 6,300 shares of the company’s stock worth $533,000 after purchasing an additional 2,900 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.