Morgan Stanley Issues Positive Forecast for Axsome Therapeutics (NASDAQ:AXSM) Stock Price

Axsome Therapeutics (NASDAQ:AXSM) had its target price boosted by Morgan Stanley from $125.00 to $190.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 48.06% from the stock’s previous close.

Several other equities analysts have also issued reports on AXSM. Robert W. Baird set a $132.00 price target on Axsome Therapeutics in a research note on Monday, February 3rd. Needham & Company LLC boosted their price objective on Axsome Therapeutics from $133.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Royal Bank of Canada raised their target price on Axsome Therapeutics from $143.00 to $192.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. HC Wainwright boosted their price target on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, Mizuho increased their price objective on shares of Axsome Therapeutics from $195.00 to $212.00 and gave the company an “outperform” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.36.

Axsome Therapeutics Stock Up 1.0 %

AXSM opened at $128.33 on Thursday. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $139.13. The business has a 50 day moving average of $102.78 and a 200-day moving average of $95.62. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of -21.42 and a beta of 1.05. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.01. The company had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. As a group, sell-side analysts anticipate that Axsome Therapeutics will post -2.79 earnings per share for the current 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 value of $393,210.00. Following the completion of the sale, the chief financial officer now owns 42,187 shares in the company, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 22.40% of the stock is currently owned by company insiders.

Institutional Trading of Axsome Therapeutics

Hedge funds have recently modified their holdings of the stock. Boxer Capital Management LLC bought a new position in Axsome Therapeutics in the 4th quarter worth approximately $39,767,000. Lazard Asset Management LLC grew its position in shares of Axsome Therapeutics by 525.7% during the 4th quarter. Lazard Asset Management LLC now owns 537,669 shares of the company’s stock worth $45,492,000 after buying an additional 451,737 shares during the period. Norges Bank bought a new stake in shares of Axsome Therapeutics in the 4th quarter valued at about $34,100,000. BVF Inc. IL raised its position in shares of Axsome Therapeutics by 32.7% in the 4th quarter. BVF Inc. IL now owns 1,388,064 shares of the company’s stock valued at $117,444,000 after acquiring an additional 342,064 shares during the period. Finally, Iron Triangle Partners LP acquired a new stake in shares of Axsome Therapeutics in the 3rd quarter valued at approximately $22,671,000. 81.49% of the stock is owned by institutional investors.

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.