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

Axsome Therapeutics (NASDAQ:AXSM) had its price target increased by Truist Financial from $180.00 to $190.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 77.43% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. Robert W. Baird raised their price objective on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and set a $139.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, January 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $121.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Needham & Company LLC restated a “buy” rating and set a $133.00 target price on shares of Axsome Therapeutics in a research report on Monday, January 13th. Finally, William Blair reaffirmed an “outperform” rating on shares of Axsome Therapeutics in a report on Friday, January 24th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $132.85.

Axsome Therapeutics Stock Performance

NASDAQ AXSM traded up $0.63 on Monday, reaching $107.09. 307,801 shares of the company’s stock traded hands, compared to its average volume of 956,748. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $111.51. 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 has a market cap of $5.19 billion, a price-to-earnings ratio of -16.35 and a beta of 1.05. The stock has a 50 day moving average price of $93.57 and a 200-day moving average price of $90.90.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.38) by $0.04. The business had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same quarter in the previous year, the firm posted ($1.32) EPS. Equities research analysts predict that Axsome Therapeutics will post -4.72 EPS for the current fiscal year.

Institutional Trading of Axsome Therapeutics

Several large investors have recently bought and sold shares of AXSM. Northwestern Mutual Wealth Management Co. purchased a new position in Axsome Therapeutics in the 2nd quarter worth approximately $27,000. R Squared Ltd purchased a new position in Axsome Therapeutics during the fourth quarter worth approximately $64,000. KBC Group NV boosted its stake in Axsome Therapeutics by 40.5% during the fourth quarter. KBC Group NV now owns 1,336 shares of the company’s stock worth $113,000 after buying an additional 385 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Axsome Therapeutics by 22.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after buying an additional 318 shares in the last quarter. Finally, Moors & Cabot Inc. acquired a new stake in shares of Axsome Therapeutics in the 3rd quarter worth $200,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.