Axsome Therapeutics (NASDAQ:AXSM) Given New $245.00 Price Target at Jefferies Financial Group

Axsome Therapeutics (NASDAQ:AXSM) had its target price boosted by equities research analysts at Jefferies Financial Group from $200.00 to $245.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 31.81% from the company’s previous close.

AXSM has been the topic of a number of other research reports. Mizuho set a $217.00 target price on Axsome Therapeutics in a research report on Wednesday, December 31st. Wells Fargo & Company upped their price objective on shares of Axsome Therapeutics from $157.00 to $193.00 and gave the company an “overweight” rating in a report on Tuesday, January 13th. Oppenheimer reissued an “outperform” rating and set a $220.00 target price on shares of Axsome Therapeutics in a report on Wednesday, December 31st. Piper Sandler boosted their target price on shares of Axsome Therapeutics from $148.00 to $223.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Axsome Therapeutics in a research report on Wednesday, January 14th. Nineteen research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Axsome Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $208.72.

Axsome Therapeutics Trading Up 0.9%

NASDAQ:AXSM opened at $185.88 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 1.66. The firm has a fifty day simple moving average of $163.98 and a 200-day simple moving average of $136.57. Axsome Therapeutics has a 12 month low of $86.99 and a 12 month high of $191.50. The company has a market capitalization of $9.37 billion, a P/E ratio of -39.80, a PEG ratio of 11.89 and a beta of 0.40.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). The firm had revenue of $170.99 million during the quarter, compared to analysts’ expectations of $162.96 million. Axsome Therapeutics had a negative return on equity of 277.31% and a negative net margin of 40.90%.The business’s revenue for the quarter was up 63.2% on a year-over-year basis. On average, equities research analysts anticipate that Axsome Therapeutics will post -2.79 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Nick Pizzie sold 12,000 shares of the stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $187.92, for a total transaction of $2,255,040.00. Following the sale, the chief financial officer directly owned 42,588 shares of the company’s stock, valued at $8,003,136.96. This represents a 21.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Herriot Tabuteau sold 78,703 shares of Axsome Therapeutics stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $171.28, for a total value of $13,480,249.84. Following the completion of the transaction, the chief executive officer owned 7,229 shares of the company’s stock, valued at approximately $1,238,183.12. This represents a 91.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 330,649 shares of company stock worth $54,319,324. Company insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its holdings in Axsome Therapeutics by 84.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock worth $162,082,000 after acquiring an additional 609,516 shares in the last quarter. Norges Bank acquired a new stake in shares of Axsome Therapeutics in the second quarter valued at about $48,889,000. Invesco Ltd. grew its position in shares of Axsome Therapeutics by 73.3% in the third quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock valued at $120,303,000 after purchasing an additional 419,008 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in shares of Axsome Therapeutics by 831.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company’s stock worth $46,662,000 after purchasing an additional 399,000 shares in the last quarter. Finally, Hood River Capital Management LLC acquired a new position in shares of Axsome Therapeutics during the 2nd quarter worth about $38,740,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.