Citigroup Increases Axsome Therapeutics (NASDAQ:AXSM) Price Target to $127.00

Axsome Therapeutics (NASDAQ:AXSM) had its price objective increased by Citigroup from $125.00 to $127.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. UBS Group initiated coverage on Axsome Therapeutics in a report on Tuesday, February 6th. They issued a buy rating and a $111.00 target price on the stock. Guggenheim lifted their price objective 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. Mizuho lowered their target price on shares of Axsome Therapeutics from $112.00 to $108.00 and set a buy rating on the stock in a report on Tuesday, February 27th. Royal Bank of Canada raised their price target on shares of Axsome Therapeutics from $123.00 to $128.00 and gave the company an outperform rating in a research report on Tuesday. Finally, Cantor Fitzgerald reissued an overweight rating and set a $108.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $119.75.

Axsome Therapeutics Price Performance

Shares of AXSM opened at $79.80 on Tuesday. Axsome Therapeutics has a 1 year low of $55.02 and a 1 year high of $98.40. 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 business has a 50-day moving average of $83.90 and a 200-day moving average of $75.31. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of -15.35 and a beta of 1.17.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.21) by $0.48. The business had revenue of $71.53 million for the quarter, compared to analyst estimates of $70.38 million. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. As a group, equities research analysts anticipate that Axsome Therapeutics will post -3.73 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Roger Jeffs sold 29,976 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the sale, the director now directly owns 120,756 shares in the company, valued at $8,416,693.20. The sale was disclosed in a document filed with the SEC, which is available at this link. 24.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. RTW Investments LP boosted its position in shares of Axsome Therapeutics by 4.8% during the 3rd quarter. RTW Investments LP now owns 4,489,596 shares of the company’s stock valued at $313,778,000 after acquiring an additional 205,319 shares during the last quarter. Vanguard Group Inc. lifted its position in Axsome Therapeutics by 11.0% during the third quarter. Vanguard Group Inc. now owns 3,111,500 shares of the company’s stock valued at $138,835,000 after purchasing an additional 309,362 shares during the last quarter. BlackRock Inc. grew its stake in Axsome Therapeutics by 10.3% in the 2nd quarter. BlackRock Inc. now owns 2,723,543 shares of the company’s stock worth $195,714,000 after buying an additional 255,319 shares in the last quarter. Perceptive Advisors LLC increased its holdings in shares of Axsome Therapeutics by 115.5% in the 4th quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock worth $82,616,000 after buying an additional 556,370 shares during the last quarter. Finally, RA Capital Management L.P. bought a new position in shares of Axsome Therapeutics in the 2nd quarter worth $71,860,000. 81.49% of the stock is currently owned by institutional investors.

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.