Axsome Therapeutics (NASDAQ:AXSM) Stock Price Target Cut by Royal Bank Of Canada

Axsome Therapeutics (NASDAQ:AXSM) had its price objective reduced by Royal Bank Of Canada from $295.00 to $273.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price objective indicates a potential upside of 91.53% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Morgan Stanley cut their target price on shares of Axsome Therapeutics from $251.00 to $247.00 and set an “equal weight” rating for the company in a research report on Friday, September 25th. Robert W. Baird lowered their price target on shares of Axsome Therapeutics from $246.00 to $220.00 and set an “outperform” rating on the stock in a research report on Tuesday. UBS Group reaffirmed a “buy” rating and issued a $239.00 price objective on shares of Axsome Therapeutics in a report on Tuesday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Axsome Therapeutics from $280.00 to $267.00 and set a “buy” rating for the company in a research note on Tuesday, September 29th. Finally, BMO Capital Markets started coverage on shares of Axsome Therapeutics in a report on Monday, July 20th. They set an “outperform” rating and a $310.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $269.79.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM traded up $6.53 during trading on Tuesday, reaching $142.54. 234,313 shares of the stock traded hands, compared to its average volume of 778,643. Axsome Therapeutics has a 52-week low of $123.00 and a 52-week high of $260.19. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.43 and a quick ratio of 1.34. The company has a 50-day moving average of $183.33 and a 200-day moving average of $198.74. The stock has a market capitalization of $7.47 billion, a P/E ratio of -37.96 and a beta of 0.86.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, November 2nd. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.38. Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%. The company had revenue of $259.69 million during the quarter, compared to analyst estimates of $249.19 million. During the same quarter last year, the firm posted ($0.94) EPS. The firm’s revenue for the quarter was up 51.9% on a year-over-year basis. Analysts forecast that Axsome Therapeutics will post -3.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Herriot Tabuteau sold 45,004 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $212.01, for a total transaction of $9,541,298.04. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at $1,532,620.29. The trade was a 86.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Mark L. Jacobson sold 10,000 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $208.65, for a total transaction of $2,086,500.00. Following the transaction, the chief operating officer owned 10,000 shares of the company’s stock, valued at $2,086,500. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 59,664 shares of company stock valued at $12,624,805 over the last 90 days. 20.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management raised its holdings in shares of Axsome Therapeutics by 400.0% in the 1st quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock valued at $34,000 after acquiring an additional 160 shares in the last quarter. ABS Direct Equity Fund LLC purchased a new position in shares of Axsome Therapeutics during the second quarter worth about $60,000. Silvant Capital Management LLC bought a new position in shares of Axsome Therapeutics in the second quarter worth approximately $66,000. GAMMA Investing LLC increased its position in shares of Axsome Therapeutics by 19.9% in the third quarter. GAMMA Investing LLC now owns 416 shares of the company’s stock worth $77,000 after purchasing an additional 69 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in Axsome Therapeutics by 505.4% in the second quarter. Parkside Financial Bank & Trust now owns 339 shares of the company’s stock valued at $83,000 after purchasing an additional 283 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics News Roundup

Here are the key news stories impacting Axsome Therapeutics this week:

• Positive Sentiment: Axsome reported third-quarter revenue of $259.7 million, up 51.9% year over year and above the $249.2 million consensus estimate. Its adjusted loss of $0.25 per share was substantially narrower than the expected $0.63 loss and the year-ago loss of $0.94. Axsome Third-Quarter Results
• Positive Sentiment: Sales increased across Axsome’s key commercial brands, while management highlighted pipeline milestones expected in 2027. The earnings call also pointed to broader growth opportunities beyond the current product portfolio. Axsome Sales and Pipeline Update
• Neutral Sentiment: Axsome will participate in four healthcare investor conferences from November 9 through November 16. The events could provide updates on commercialization plans, clinical programs and future growth. Axsome Investor Conferences
• Negative Sentiment: Analysts lowered their price targets despite maintaining favorable ratings: Robert W. Baird cut its target to $220 from $246 while keeping an “outperform” rating, UBS reduced its target to $239 from $256, and Piper Sandler lowered its target to $235 from $238. The reductions signal more cautious expectations, although the targets remain well above the current trading level. Baird Axsome Price Target
• Negative Sentiment: Investor concerns center on AUVELITY’s slower-than-expected adoption for Alzheimer’s-related agitation. Recent growth appears to be driven more by prescriptions for depression in patients under 65 than by the newer Alzheimer’s opportunity, while some quarterly revenue benefit came from one-time items and improved gross-to-net dynamics rather than sustainable volume growth. Axsome Launch Concerns

About Axsome Therapeutics

Axsome Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. Founded in 2012 and headquartered in New York, the company develops medicines for conditions with significant unmet medical needs, including depression, narcolepsy, excessive daytime sleepiness, and other neurological disorders.

Axsome’s commercial products include Auvelity (dextromethorphan and bupropion), an oral treatment approved in the United States for major depressive disorder in adults, and Sunosi (solriamfetol), a therapy for excessive daytime sleepiness associated with narcolepsy or obstructive sleep apnea.