Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives $125.93 Consensus Target Price from Analysts

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has been given a consensus recommendation of “Buy” by the fourteen research firms that are currently covering the stock, MarketBeat.com reports. Fourteen research analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $125.93.

Several research firms have recently weighed in on AXSM. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, November 12th. Royal Bank of Canada increased their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Robert W. Baird boosted their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and set a $180.00 target price on shares of Axsome Therapeutics in a research report on Monday, November 25th. Finally, Wells Fargo & Company began coverage on shares of Axsome Therapeutics in a research report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price target on the stock.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds have recently added to or reduced their stakes in AXSM. FMR LLC boosted its stake in Axsome Therapeutics by 20.6% in the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after acquiring an additional 185,951 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Axsome Therapeutics by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 908,459 shares of the company’s stock valued at $81,659,000 after purchasing an additional 23,564 shares during the period. Wellington Management Group LLP boosted its position in shares of Axsome Therapeutics by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock worth $66,750,000 after purchasing an additional 8,125 shares during the last quarter. Millennium Management LLC grew its stake in shares of Axsome Therapeutics by 1.4% during the second quarter. Millennium Management LLC now owns 739,819 shares of the company’s stock worth $59,555,000 after purchasing an additional 10,401 shares during the period. Finally, Hood River Capital Management LLC increased its holdings in Axsome Therapeutics by 5.4% in the second quarter. Hood River Capital Management LLC now owns 549,066 shares of the company’s stock valued at $44,200,000 after purchasing an additional 28,316 shares during the last quarter. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM opened at $87.01 on Friday. Axsome Therapeutics has a one year low of $64.11 and a one year high of $105.00. 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 business has a fifty day simple moving average of $93.69 and a 200 day simple moving average of $88.25. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of -13.32 and a beta of 1.18.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. The company had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same period last year, the firm earned ($1.32) EPS. Sell-side analysts expect that Axsome Therapeutics will post -4.6 EPS for the current year.

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.