Royal Bank of Canada Reiterates “Outperform” Rating for Axsome Therapeutics (NASDAQ:AXSM)

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “outperform” rating reiterated by equities research analysts at Royal Bank of Canada in a research note issued to investors on Monday, Benzinga reports. They presently have a $131.00 price target on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 52.93% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC initiated coverage on shares of Axsome Therapeutics in a research report on Monday. They set a “buy” rating and a $130.00 price target on the stock. Truist Financial reissued a “buy” rating and issued a $150.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, March 26th. Morgan Stanley raised Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $90.00 to $115.00 in a research report on Monday, April 29th. Citigroup decreased their target price on Axsome Therapeutics from $127.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $107.00 price target on shares of Axsome Therapeutics in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $123.85.

Axsome Therapeutics Stock Down 0.5 %

Shares of NASDAQ AXSM opened at $85.66 on Monday. The company has a quick ratio of 3.09, a current ratio of 3.20 and a debt-to-equity ratio of 1.25. The business’s 50 day moving average is $77.81 and its two-hundred day moving average is $79.44. Axsome Therapeutics has a 52-week low of $55.02 and a 52-week high of $98.40. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of -13.43 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, May 6th. The company reported ($1.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.20) by $0.11. Axsome Therapeutics had a negative return on equity of 87.17% and a negative net margin of 118.07%. The firm had revenue of $75.00 million for the quarter, compared to the consensus estimate of $69.91 million. Research analysts predict that Axsome Therapeutics will post -4.66 EPS for the current year.

Insider Activity at Axsome Therapeutics

In other news, Director Mark Coleman sold 5,249 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $75.21, for a total value of $394,777.29. Following the completion of the transaction, the director now owns 19,848 shares in the company, valued at approximately $1,492,768.08. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, COO Mark L. Jacobson sold 7,910 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total value of $587,792.10. Following the completion of the sale, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at approximately $429,734.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mark Coleman sold 5,249 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.21, for a total value of $394,777.29. Following the transaction, the director now owns 19,848 shares in the company, valued at approximately $1,492,768.08. The disclosure for this sale can be found here. 22.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several large investors have recently modified their holdings of AXSM. Washington Trust Advisors Inc. purchased a new stake in Axsome Therapeutics in the 4th quarter valued at $26,000. EntryPoint Capital LLC purchased a new stake in shares of Axsome Therapeutics in the first quarter valued at about $35,000. Russell Investments Group Ltd. boosted its stake in shares of 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 buying an additional 777 shares during the period. Covestor Ltd grew its holdings in shares of Axsome Therapeutics by 54,750.0% during the first quarter. Covestor Ltd now owns 1,097 shares of the company’s stock worth $88,000 after buying an additional 1,095 shares during the last quarter. Finally, Janiczek Wealth Management LLC acquired a new position in Axsome Therapeutics in the 1st quarter valued at about $97,000. 81.49% of the stock is owned by institutional investors and hedge funds.

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.