Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $260.00 at HC Wainwright

Axsome Therapeutics (NASDAQ:AXSM) had its price objective lifted by investment analysts at HC Wainwright from $200.00 to $260.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 46.67% from the stock’s current price.

AXSM has been the subject of a number of other reports. Mizuho set a $217.00 target price on shares of Axsome Therapeutics in a report on Wednesday, December 31st. Cantor Fitzgerald restated an “overweight” rating on shares of Axsome Therapeutics in a research note on Wednesday, January 14th. Oppenheimer reaffirmed an “outperform” rating and issued a $220.00 price objective on shares of Axsome Therapeutics in a research note on Wednesday, December 31st. Needham & Company LLC restated a “buy” rating and set a $225.00 target price on shares of Axsome Therapeutics in a research note on Monday, January 5th. Finally, Cowen restated a “buy” rating on shares of Axsome Therapeutics in a research note on Wednesday, December 31st. Nineteen analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $202.00.

Axsome Therapeutics Stock Up 1.8%

Axsome Therapeutics stock opened at $177.27 on Tuesday. Axsome Therapeutics has a one year low of $86.99 and a one year high of $184.40. The stock has a fifty day moving average of $155.61 and a 200 day moving average of $131.21. 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 has a market cap of $8.94 billion, a PE ratio of -37.96, a price-to-earnings-growth ratio of 8.76 and a beta of 0.44.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly 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). Axsome Therapeutics had a negative net margin of 40.90% and a negative return on equity of 277.31%. The firm had revenue of $170.99 million for the quarter, compared to the consensus estimate of $162.96 million. The business’s quarterly revenue was up 63.2% on a year-over-year basis. As a group, sell-side analysts predict that Axsome Therapeutics will post -2.79 EPS for the current year.

Insider Activity

In related news, Director Mark E. Saad sold 37,577 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $165.18, for a total transaction of $6,206,968.86. Following the transaction, the director directly owned 10,002 shares in the company, valued at approximately $1,652,130.36. This represents a 78.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Herriot Tabuteau sold 31,261 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $170.38, for a total value of $5,326,249.18. Following the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,231,677.02. This represents a 81.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 420,903 shares of company stock valued at $63,552,838 in the last 90 days. Company insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AXSM. Aberdeen Group plc increased its position in Axsome Therapeutics by 2.9% during the 4th quarter. Aberdeen Group plc now owns 97,413 shares of the company’s stock valued at $17,792,000 after purchasing an additional 2,765 shares during the period. Birch Financial Group LLC acquired a new position in Axsome Therapeutics during the 4th quarter valued at about $200,000. Pallas Capital Advisors LLC raised its stake in Axsome Therapeutics by 11.3% in the fourth quarter. Pallas Capital Advisors LLC now owns 43,909 shares of the company’s stock valued at $8,020,000 after buying an additional 4,465 shares during the last quarter. SG Americas Securities LLC raised its stake in Axsome Therapeutics by 46.2% in the fourth quarter. SG Americas Securities LLC now owns 17,681 shares of the company’s stock valued at $3,229,000 after buying an additional 5,584 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Axsome Therapeutics by 58.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 467,982 shares of the company’s stock worth $85,472,000 after acquiring an additional 173,211 shares in the last quarter. 81.49% of the stock is currently owned by hedge funds and other 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.