Leerink Partners Forecasts Strong Price Appreciation for Axsome Therapeutics (NASDAQ:AXSM) Stock

Axsome Therapeutics (NASDAQ:AXSM) had its target price boosted by equities research analysts at Leerink Partners from $150.00 to $205.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Leerink Partners’ price objective points to a potential upside of 11.03% from the stock’s previous close.

Several other analysts also recently commented on AXSM. TD Cowen reissued a “buy” rating on shares of Axsome Therapeutics in a research report on Wednesday, December 31st. Wells Fargo & Company increased their price target on Axsome Therapeutics from $157.00 to $193.00 and gave the company an “overweight” rating in a report on Tuesday, January 13th. Oppenheimer reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, December 31st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Axsome Therapeutics in a research note on Wednesday, January 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $225.00 target price on shares of Axsome Therapeutics in a report on Monday, January 5th. Nineteen equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $206.22.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM traded down $3.39 during trading hours on Wednesday, hitting $184.63. The stock had a trading volume of 235,955 shares, compared to its average volume of 772,088. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of -39.54, a PEG ratio of 9.73 and a beta of 0.44. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.50 and a current ratio of 1.57. The stock’s fifty day simple moving average is $160.98 and its 200 day simple moving average is $134.49. Axsome Therapeutics has a 1-year low of $86.99 and a 1-year high of $191.50.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). The company had revenue of $170.99 million for the quarter, compared to analyst estimates of $162.96 million. Axsome Therapeutics had a negative return on equity of 277.31% and a negative net margin of 40.90%.The firm’s revenue was up 63.2% compared to the same quarter last year. Sell-side analysts anticipate that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Activity at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $187.92, for a total value of $2,255,040.00. Following the completion of the transaction, the chief financial officer owned 42,588 shares in the company, valued at $8,003,136.96. The trade was a 21.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ari Maizel sold 7,500 shares of the company’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $184.44, for a total transaction of $1,383,300.00. The disclosure for this sale is available in the SEC filing. Insiders sold 440,403 shares of company stock valued at $67,191,178 over the last three months. 22.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its position in Axsome Therapeutics by 20,300.0% during the 3rd quarter. Versant Capital Management Inc now owns 204 shares of the company’s stock worth $25,000 after buying an additional 203 shares in the last quarter. GAMMA Investing LLC raised its holdings in Axsome Therapeutics by 65.4% in the 4th quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock valued at $49,000 after buying an additional 106 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Axsome Therapeutics by 602.6% in the 4th quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock valued at $50,000 after purchasing an additional 235 shares during the period. First Horizon Corp acquired a new position in shares of Axsome Therapeutics during the third quarter valued at about $34,000. Finally, Optiver Holding B.V. grew its stake in shares of Axsome Therapeutics by 82.3% in the 3rd quarter. Optiver Holding B.V. now owns 288 shares of the company’s stock worth $35,000 after acquiring an additional 130 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.