Citigroup Cuts Axsome Therapeutics (NASDAQ:AXSM) Price Target to $125.00

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

A number of other equities analysts have also recently commented on AXSM. Piper Sandler lifted their target price on shares of Axsome Therapeutics from $90.00 to $113.00 and gave the stock an overweight rating in a research report on Tuesday, January 16th. Truist Financial reiterated a buy rating and issued a $150.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, March 26th. HC Wainwright restated a buy rating and set a $190.00 target price on shares of Axsome Therapeutics in a report on Tuesday. Robert W. Baird raised their price target on Axsome Therapeutics from $108.00 to $112.00 and gave the stock an outperform rating in a research report on Tuesday. Finally, Mizuho boosted their price objective on Axsome Therapeutics from $108.00 to $109.00 and gave the company a buy rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $121.92.

Axsome Therapeutics Stock Down 2.6 %

AXSM opened at $73.68 on Tuesday. The business’s fifty day simple moving average is $73.84 and its 200 day simple moving average is $75.72. Axsome Therapeutics has a 52 week low of $55.02 and a 52 week high of $98.40. The company has a quick ratio of 3.52, a current ratio of 3.63 and a debt-to-equity ratio of 0.93. The stock has a market cap of $3.50 billion, a PE ratio of -11.55 and a beta of 1.13.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($1.21) by $0.48. The firm had revenue of $71.53 million for the quarter, compared to analyst estimates of $70.38 million. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. As a group, research analysts expect that Axsome Therapeutics will post -3.75 earnings per share for the current fiscal year.

Insider Activity at Axsome Therapeutics

In related news, Director Roger Jeffs sold 29,976 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $69.70, for a total value of $2,089,327.20. Following the completion of the sale, the director now owns 120,756 shares of the company’s stock, valued at $8,416,693.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Roger Jeffs sold 29,976 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $69.70, for a total value of $2,089,327.20. Following the completion of the transaction, the director now directly owns 120,756 shares of the company’s stock, valued at $8,416,693.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Mark L. Jacobson sold 24,662 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $77.24, for a total transaction of $1,904,892.88. The disclosure for this sale can be found here. 24.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds have recently made changes to their positions in the company. Washington Trust Advisors Inc. bought a new position in Axsome Therapeutics in the fourth quarter worth $26,000. Fifth Third Bancorp boosted its stake in Axsome Therapeutics by 100.0% during the third quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock worth $28,000 after acquiring an additional 200 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Axsome Therapeutics by 5,550.0% in the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after purchasing an additional 777 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Axsome Therapeutics by 110.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,204 shares of the company’s stock valued at $84,000 after purchasing an additional 633 shares in the last quarter. Finally, Janiczek Wealth Management LLC purchased a new position in shares of Axsome Therapeutics during the first quarter valued at approximately $97,000. 81.49% of the stock is currently owned by institutional investors.

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.