Axsome Therapeutics (NASDAQ:AXSM) PT Raised to $112.00 at Robert W. Baird

Axsome Therapeutics (NASDAQ:AXSM) had its price target boosted by research analysts at Robert W. Baird from $108.00 to $112.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 47.99% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Mizuho boosted their price target on Axsome Therapeutics from $108.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, March 28th. HC Wainwright reissued a “buy” rating and issued a $190.00 price target on shares of Axsome Therapeutics in a report on Tuesday, April 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $107.00 price target on shares of Axsome Therapeutics in a report on Wednesday, April 10th. Truist Financial reissued a “buy” rating and issued a $150.00 price target on shares of Axsome Therapeutics in a report on Tuesday, March 26th. Finally, Piper Sandler boosted their price objective on Axsome Therapeutics from $90.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.92.

Axsome Therapeutics Trading Down 1.6 %

Axsome Therapeutics stock opened at $75.68 on Tuesday. The company has a quick ratio of 3.52, a current ratio of 3.63 and a debt-to-equity ratio of 0.93. Axsome Therapeutics has a 52 week low of $55.02 and a 52 week high of $98.40. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of -14.55 and a beta of 1.13. The stock has a 50-day moving average price of $73.99 and a 200 day moving average price of $75.73.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, February 20th. The company reported ($0.73) 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 firm had revenue of $71.53 million during the quarter, compared to the consensus estimate of $70.38 million. Sell-side analysts anticipate that Axsome Therapeutics will post -3.75 EPS for the current year.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, Director Roger Jeffs sold 29,976 shares of the stock in a transaction that occurred 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 transaction, 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 available through this hyperlink. In related news, Director Roger Jeffs sold 29,976 shares of the stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Mark L. Jacobson sold 24,662 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The disclosure for this sale can be found here. Insiders own 24.50% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. ProShare Advisors LLC increased its holdings in shares of Axsome Therapeutics by 9.0% in the first quarter. ProShare Advisors LLC now owns 9,724 shares of the company’s stock valued at $776,000 after purchasing an additional 800 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Axsome Therapeutics by 5,550.0% during the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after acquiring an additional 777 shares during the last quarter. Sei Investments Co. increased its stake in Axsome Therapeutics by 8.2% during the first quarter. Sei Investments Co. now owns 35,654 shares of the company’s stock worth $2,845,000 after acquiring an additional 2,697 shares during the last quarter. SG Americas Securities LLC increased its stake in Axsome Therapeutics by 605.5% during the first quarter. SG Americas Securities LLC now owns 15,104 shares of the company’s stock worth $1,205,000 after acquiring an additional 12,963 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its stake in Axsome Therapeutics by 20.4% during the first quarter. Mutual of America Capital Management LLC now owns 41,620 shares of the company’s stock worth $3,321,000 after acquiring an additional 7,042 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

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.