Analysts Set Axsome Therapeutics, Inc. (NASDAQ:AXSM) Price Target at $167.36

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has been assigned a consensus recommendation of “Buy” from the fifteen research firms that are currently covering the company, MarketBeat reports. Fifteen investment analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $167.36.

Several equities research analysts have recently weighed in on AXSM shares. William Blair reaffirmed an “outperform” rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Bank of America upped their target price on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. HC Wainwright reaffirmed a “buy” rating and issued a $200.00 price target on shares of Axsome Therapeutics in a research note on Thursday, March 6th. Morgan Stanley upped their price target on Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $153.00 target price on shares of Axsome Therapeutics in a research note on Monday, March 3rd.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $118.78 on Thursday. The firm’s 50 day moving average is $109.46 and its 200-day moving average is $98.05. The stock has a market capitalization of $5.79 billion, a P/E ratio of -19.83 and a beta of 1.00. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $117.83 million. Equities research analysts anticipate that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors have recently modified their holdings of the company. Pitcairn Co. lifted its stake in shares of Axsome Therapeutics by 3.4% in the 4th quarter. Pitcairn Co. now owns 4,562 shares of the company’s stock valued at $386,000 after purchasing an additional 148 shares during the period. Meridian Wealth Management LLC increased its position in Axsome Therapeutics by 0.7% during the fourth quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company’s stock valued at $1,791,000 after acquiring an additional 150 shares during the last quarter. Summit Investment Advisors Inc. increased its position in Axsome Therapeutics by 4.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company’s stock valued at $326,000 after acquiring an additional 162 shares during the last quarter. Arizona State Retirement System increased its position in Axsome Therapeutics by 1.8% in the fourth quarter. Arizona State Retirement System now owns 9,054 shares of the company’s stock worth $766,000 after buying an additional 164 shares in the last quarter. Finally, Intrust Bank NA increased its position in Axsome Therapeutics by 6.9% in the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company’s stock worth $239,000 after buying an additional 183 shares in the last quarter. 81.49% of the stock is currently 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.