Truist Financial Forecasts Strong Price Appreciation for Axsome Therapeutics (NASDAQ:AXSM) Stock

Axsome Therapeutics (NASDAQ:AXSM) had its price target increased by investment analysts at Truist Financial from $190.00 to $200.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 59.45% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC boosted their price objective on shares of Axsome Therapeutics from $133.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday. William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a research report on Tuesday. Robert W. Baird boosted their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Leerink Partners upped their price objective 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. Finally, StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.80.

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock traded down $2.66 during mid-day trading on Wednesday, reaching $125.43. The company’s stock had a trading volume of 271,363 shares, compared to its average volume of 1,083,579. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $134.18. The company has a market capitalization of $6.08 billion, a P/E ratio of -19.21 and a beta of 1.05. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The firm’s fifty day moving average price is $98.47 and its two-hundred day moving average price is $93.68.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $117.83 million. Sell-side analysts predict that Axsome Therapeutics will post -4.59 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AXSM. Creative Planning boosted its stake in Axsome Therapeutics by 29.8% in the 3rd quarter. Creative Planning now owns 10,854 shares of the company’s stock worth $975,000 after purchasing an additional 2,489 shares in the last quarter. Values First Advisors Inc. acquired a new stake in Axsome Therapeutics during the 3rd quarter valued at approximately $568,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Axsome Therapeutics by 22.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after acquiring an additional 318 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Axsome Therapeutics by 4.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,808 shares of the company’s stock valued at $1,780,000 after acquiring an additional 754 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Axsome Therapeutics by 65.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,232 shares of the company’s stock valued at $830,000 after acquiring an additional 3,652 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.