Axsome Therapeutics (NASDAQ:AXSM) PT Lowered to $125.00

Axsome Therapeutics (NASDAQ:AXSM) had its price objective decreased by stock analysts at Citigroup from $127.00 to $125.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 65.50% from the stock’s current price.

A number of other equities research analysts also recently issued reports on AXSM. Cantor Fitzgerald reissued an “overweight” rating and set a $107.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, April 10th. Truist Financial reissued a “buy” rating and set a $150.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, March 26th. Robert W. Baird raised their target price on Axsome Therapeutics from $108.00 to $112.00 and gave the company an “outperform” rating in a report on Tuesday. Mizuho raised their target price on Axsome Therapeutics from $108.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, Guggenheim raised their target price on Axsome Therapeutics from $110.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.17.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM traded down $0.41 during trading hours on Tuesday, reaching $75.53. 228,639 shares of the stock were exchanged, compared to its average volume of 703,138. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of -14.49 and a beta of 1.13. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.52 and a current ratio of 3.63. Axsome Therapeutics has a 52 week low of $55.02 and a 52 week high of $98.40. The stock’s fifty day simple moving average is $74.28 and its 200 day simple moving average is $75.64.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.48. The business had revenue of $71.53 million for the quarter, compared to the consensus estimate of $70.38 million. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. Sell-side analysts predict that Axsome Therapeutics will post -3.75 EPS for the current year.

Insider Transactions at Axsome Therapeutics

In related news, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total value of $2,089,327.20. Following the sale, the director now owns 120,756 shares of the company’s stock, valued at approximately $8,416,693.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Mark L. Jacobson sold 24,662 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roger Jeffs sold 29,976 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the sale, the director now owns 120,756 shares of the company’s stock, valued at $8,416,693.20. The disclosure for this sale can be found here. Company insiders own 24.50% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Washington Trust Advisors Inc. bought a new position in shares of Axsome Therapeutics during the fourth quarter valued at approximately $26,000. Fifth Third Bancorp grew its holdings in shares of Axsome Therapeutics by 100.0% during the third quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Axsome Therapeutics by 110.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,204 shares of the company’s stock worth $84,000 after purchasing an additional 633 shares during the last quarter. Janiczek Wealth Management LLC purchased a new stake in Axsome Therapeutics in the first quarter worth approximately $97,000. Finally, SG Americas Securities LLC purchased a new stake in Axsome Therapeutics in the fourth quarter worth approximately $170,000. 81.49% of the stock is owned by institutional investors.

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.