Axsome Therapeutics (NASDAQ:AXSM) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Axsome Therapeutics (NASDAQ:AXSM) had its price objective boosted by Robert W. Baird from $160.00 to $162.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also recently issued reports on AXSM. Morgan Stanley increased their price target on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. William Blair reissued an “outperform” rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Jefferies Financial Group began coverage on Axsome Therapeutics in a report on Monday, April 7th. They set a “buy” rating and a $200.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $153.00 target price on shares of Axsome Therapeutics in a report on Tuesday, April 1st. Finally, Royal Bank of Canada upped their price target on shares of Axsome Therapeutics from $190.00 to $193.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $170.33.

Axsome Therapeutics Trading Down 3.7 %

NASDAQ:AXSM opened at $112.16 on Tuesday. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. Axsome Therapeutics has a 52-week low of $64.11 and a 52-week high of $139.13. The stock’s 50 day moving average price is $113.06 and its 200 day moving average price is $104.23. The company has a market capitalization of $5.52 billion, a PE ratio of -18.72 and a beta of 0.46.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. The business had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. On average, research analysts anticipate that Axsome Therapeutics will post -2.79 EPS for the current year.

Insider Buying and Selling at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the transaction, the chief financial officer now owns 42,187 shares of the company’s stock, valued at $5,529,450.09. The trade was a 6.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 22.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors have recently bought and sold shares of the stock. Neo Ivy Capital Management purchased a new stake in shares of Axsome Therapeutics in the 1st quarter valued at approximately $41,000. Assetmark Inc. lifted its holdings in shares of Axsome Therapeutics by 61.5% in the first quarter. Assetmark Inc. now owns 987 shares of the company’s stock valued at $115,000 after purchasing an additional 376 shares in the last quarter. Avantax Advisory Services Inc. acquired a new stake in shares of Axsome Therapeutics in the first quarter worth $246,000. Legato Capital Management LLC purchased a new position in shares of Axsome Therapeutics during the first quarter valued at $1,164,000. Finally, Readystate Asset Management LP acquired a new position in Axsome Therapeutics during the first quarter valued at $6,946,000. Hedge funds and other 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.