HC Wainwright Forecasts Strong Price Appreciation for Axsome Therapeutics (NASDAQ:AXSM) Stock

Axsome Therapeutics (NASDAQ:AXSM) had its price target increased by HC Wainwright from $190.00 to $200.00 in a report issued on Thursday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other research firms have also recently commented on AXSM. Royal Bank of Canada increased their target price on Axsome Therapeutics from $143.00 to $192.00 and gave the stock an “outperform” rating in a research note on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and set a $153.00 price objective on shares of Axsome Therapeutics in a research report on Wednesday. William Blair restated an “outperform” rating on shares of Axsome Therapeutics in a research note on Tuesday. Needham & Company LLC upped their target price on shares of Axsome Therapeutics from $133.00 to $153.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Leerink Partners raised their price target on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Axsome Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $155.47.

Axsome Therapeutics Trading Up 1.7 %

NASDAQ:AXSM opened at $129.15 on Thursday. The firm has a market capitalization of $6.26 billion, a P/E ratio of -21.56 and a beta of 1.05. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. Axsome Therapeutics has a one year low of $64.11 and a one year high of $134.18. The company’s 50-day simple moving average is $100.34 and its 200 day simple moving average is $94.46.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.01. The firm had revenue of $118.77 million during 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 195.76%. As a group, analysts forecast that Axsome Therapeutics will post -2.26 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares in the company, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 22.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. BVF Inc. IL increased its stake 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 worth $117,444,000 after purchasing an additional 342,064 shares in the last quarter. FMR LLC raised its stake in shares of Axsome Therapeutics by 20.6% in the third 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 stake in shares of Axsome Therapeutics by 0.4% in the fourth 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 grew its stake in shares of Axsome Therapeutics by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock valued at $66,750,000 after acquiring an additional 8,125 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Axsome Therapeutics by 10.8% during the 4th quarter. Invesco Ltd. now owns 692,464 shares of the company’s stock valued at $58,589,000 after acquiring an additional 67,285 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.