Royal Bank of Canada Increases Axsome Therapeutics (NASDAQ:AXSM) Price Target to $128.00

Axsome Therapeutics (NASDAQ:AXSM) had its price target increased by Royal Bank of Canada from $123.00 to $128.00 in a research report sent to investors on Tuesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other research firms have also weighed in on AXSM. HC Wainwright restated a buy rating and set a $180.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, March 20th. Cantor Fitzgerald reiterated an overweight rating and issued a $108.00 target price on shares of Axsome Therapeutics in a report on Tuesday, February 20th. Guggenheim boosted their target price on shares of Axsome Therapeutics from $110.00 to $125.00 and gave the company a buy rating in a report on Wednesday, February 21st. Citigroup began coverage on shares of Axsome Therapeutics in a report on Wednesday, December 13th. They issued a buy rating and a $125.00 target price on the stock. Finally, UBS Group began coverage on shares of Axsome Therapeutics in a report on Tuesday, February 6th. They issued a buy rating and a $111.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Axsome Therapeutics currently has an average rating of Moderate Buy and a consensus price target of $119.75.

Axsome Therapeutics Trading Up 0.8 %

Shares of Axsome Therapeutics stock opened at $79.80 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.63 and a quick ratio of 3.52. The firm has a fifty day moving average price of $83.90 and a 200 day moving average price of $75.31. Axsome Therapeutics has a 1 year low of $55.02 and a 1 year high of $98.40. The stock has a market cap of $3.78 billion, a PE ratio of -15.35 and a beta of 1.17.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.48. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. The company had revenue of $71.53 million during the quarter, compared to analysts’ expectations of $70.38 million. Equities research analysts predict that Axsome Therapeutics will post -3.73 earnings per share for the current year.

Insider Activity

In related news, Director Roger Jeffs sold 29,976 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the completion of the sale, the director now owns 120,756 shares in the company, valued at approximately $8,416,693.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 24.50% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

A number of large investors have recently made changes to their positions in AXSM. Principal Financial Group Inc. increased its holdings in Axsome Therapeutics by 1.3% during the 4th quarter. Principal Financial Group Inc. now owns 9,497 shares of the company’s stock valued at $756,000 after acquiring an additional 120 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in Axsome Therapeutics by 0.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 17,999 shares of the company’s stock valued at $1,433,000 after acquiring an additional 135 shares in the last quarter. AQR Capital Management LLC increased its holdings in Axsome Therapeutics by 1.7% during the 1st quarter. AQR Capital Management LLC now owns 8,825 shares of the company’s stock valued at $544,000 after acquiring an additional 148 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in Axsome Therapeutics by 6.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,717 shares of the company’s stock valued at $195,000 after acquiring an additional 153 shares in the last quarter. Finally, American International Group Inc. boosted its stake in shares of Axsome Therapeutics by 0.9% during the 4th quarter. American International Group Inc. now owns 17,721 shares of the company’s stock worth $1,410,000 after purchasing an additional 162 shares during the last quarter. 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.