Axsome Therapeutics (NASDAQ:AXSM) PT Raised to $128.00 at Royal Bank of Canada

Axsome Therapeutics (NASDAQ:AXSM) had its price objective increased by research analysts at Royal Bank of Canada from $123.00 to $128.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 61.68% from the company’s current price.

A number of other equities analysts have also issued reports on AXSM. UBS Group began coverage on Axsome Therapeutics in a report on Tuesday, February 6th. They issued a “buy” rating and a $111.00 price objective for the company. Citigroup began coverage on Axsome Therapeutics in a report on Wednesday, December 13th. They issued a “buy” rating and a $125.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, March 20th. Mizuho decreased their price target on Axsome Therapeutics from $112.00 to $108.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Finally, Piper Sandler increased their price target on Axsome Therapeutics from $90.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $119.67.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $79.17 on Tuesday. Axsome Therapeutics has a 12-month low of $55.02 and a 12-month high of $98.40. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of -15.23 and a beta of 1.17. The business has a 50 day simple moving average of $84.10 and a 200 day simple moving average of $75.29. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.63 and a quick ratio of 3.52.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.48. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. The business had revenue of $71.53 million during the quarter, compared to analyst estimates of $70.38 million. On average, equities research analysts anticipate that Axsome Therapeutics will post -3.71 EPS for the current year.

Insider Activity

In other news, Director Roger Jeffs sold 29,976 shares of the stock in a transaction on 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 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 24.50% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. RTW Investments LP lifted its holdings in shares of Axsome Therapeutics by 4.8% in the third quarter. RTW Investments LP now owns 4,489,596 shares of the company’s stock valued at $313,778,000 after purchasing an additional 205,319 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Axsome Therapeutics by 11.0% in 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 in the last quarter. BlackRock Inc. lifted its holdings in shares of Axsome Therapeutics by 10.3% in the second quarter. BlackRock Inc. now owns 2,723,543 shares of the company’s stock valued at $195,714,000 after purchasing an additional 255,319 shares in the last quarter. Perceptive Advisors LLC lifted its holdings in shares of Axsome Therapeutics by 115.5% in the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock valued at $82,616,000 after purchasing an additional 556,370 shares in the last quarter. Finally, RA Capital Management L.P. purchased a new stake in shares of Axsome Therapeutics in the second quarter valued at $71,860,000. Institutional investors and hedge funds 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.