Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) had its price target boosted by research analysts at Royal Bank of Canada from $143.00 to $192.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank of Canada's price target suggests a potential upside of 50.69% from the company's previous close.
Other analysts also recently issued reports about the stock. StockNews.com raised shares of Axsome Therapeutics from a "sell" rating to a "hold" rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Axsome Therapeutics in a report on Tuesday, February 11th. They set a "buy" rating and a $176.00 price objective for the company. Bank of America upped their price objective on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Needham & Company LLC upped their price objective on shares of Axsome Therapeutics from $133.00 to $153.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, HC Wainwright reiterated a "buy" rating and set a $190.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, February 11th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $154.13.
Read Our Latest Stock Analysis on AXSM
Shares of NASDAQ AXSM traded down $0.68 during midday trading on Wednesday, reaching $127.42. The company's stock had a trading volume of 126,920 shares, compared to its average volume of 1,078,651. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The company has a 50 day moving average price of $98.47 and a 200 day moving average price of $93.68. Axsome Therapeutics has a one year low of $64.11 and a one year high of $134.18. The company has a market cap of $6.17 billion, a price-to-earnings ratio of -19.51 and a beta of 1.05.
Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $118.77 million for the quarter, compared to the consensus estimate of $117.83 million. On average, equities research analysts expect that Axsome Therapeutics will post -4.59 EPS for the current year.
In related news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the sale, the chief financial officer now directly owns 42,187 shares in the company, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 22.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of AXSM. BVF Inc. IL raised its holdings in Axsome Therapeutics by 32.7% during the 4th quarter. BVF Inc. IL now owns 1,388,064 shares of the company's stock worth $117,444,000 after buying an additional 342,064 shares during the period. FMR LLC raised its holdings in Axsome Therapeutics by 20.6% during the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company's stock worth $97,786,000 after buying an additional 185,951 shares during the period. Geode Capital Management LLC raised its holdings in Axsome Therapeutics by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 912,538 shares of the company's stock worth $77,228,000 after buying an additional 4,079 shares during the period. Wellington Management Group LLP raised its holdings in Axsome Therapeutics by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company's stock worth $66,750,000 after buying an additional 8,125 shares during the period. Finally, Invesco Ltd. raised its holdings in Axsome Therapeutics by 10.8% during the 4th quarter. Invesco Ltd. now owns 692,464 shares of the company's stock worth $58,589,000 after buying an additional 67,285 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Before you consider Axsome Therapeutics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Axsome Therapeutics wasn't on the list.
While Axsome Therapeutics currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.