Axsome Therapeutics (NASDAQ:AXSM) Given New $180.00 Price Target at HC Wainwright

Axsome Therapeutics (NASDAQ:AXSM) had its target price cut by HC Wainwright from $200.00 to $180.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Leerink Partners raised their target price on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Bank of America boosted their price objective on Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. William Blair reaffirmed an “outperform” rating on shares of Axsome Therapeutics in a research report on Tuesday, February 18th. Royal Bank of Canada raised their target price on Axsome Therapeutics from $190.00 to $193.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $153.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, February 19th. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $172.14.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $110.86 on Wednesday. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of -18.51 and a beta of 0.46. Axsome Therapeutics has a twelve month low of $64.11 and a twelve month high of $139.13. The business has a 50 day simple moving average of $112.73 and a 200-day simple moving average of $104.28.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, beating the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The firm had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. As a group, equities research analysts expect that Axsome Therapeutics will post -2.79 earnings per share for the current year.

Insiders Place Their Bets

In other Axsome Therapeutics 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 in the company, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 22.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Axsome Therapeutics

A number of hedge funds have recently modified their holdings of AXSM. Barclays PLC increased its position in shares of Axsome Therapeutics by 279.6% in the third quarter. Barclays PLC now owns 61,785 shares of the company’s stock worth $5,552,000 after acquiring an additional 45,509 shares in the last quarter. Franklin Resources Inc. grew its position in Axsome Therapeutics by 47.5% during the 3rd quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock worth $13,713,000 after purchasing an additional 51,696 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Axsome Therapeutics by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock valued at $19,062,000 after purchasing an additional 27,534 shares during the period. Pallas Capital Advisors LLC purchased a new stake in shares of Axsome Therapeutics in the fourth quarter valued at $2,237,000. Finally, Flower City Capital acquired a new stake in shares of Axsome Therapeutics in the fourth quarter worth $254,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.