Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives $217.59 Average Price Target from Analysts
by Teresa Graham · The Cerbat GemShares of Axsome Therapeutics, Inc. (NASDAQ:AXSM – Get Free Report) have earned an average rating of “Moderate Buy” from the twenty brokerages that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, seventeen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $218.0588.
A number of brokerages recently commented on AXSM. Piper Sandler increased their price target on Axsome Therapeutics from $148.00 to $223.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Morgan Stanley set a $207.00 price target on Axsome Therapeutics in a research note on Tuesday, February 24th. Guggenheim increased their price target on Axsome Therapeutics from $220.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, March 25th. HC Wainwright increased their price target on Axsome Therapeutics from $200.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Finally, Jefferies Financial Group set a $215.00 price target on Axsome Therapeutics in a research note on Monday, February 23rd.
Check Out Our Latest Research Report on Axsome Therapeutics
Axsome Therapeutics Price Performance
Shares of Axsome Therapeutics stock opened at $178.11 on Friday. The stock has a 50 day moving average of $170.25 and a 200 day moving average of $156.11. Axsome Therapeutics has a 12 month low of $93.95 and a 12 month high of $191.50. The firm has a market cap of $9.11 billion, a PE ratio of -48.27 and a beta of 0.48. The company has a current ratio of 1.55, a quick ratio of 1.48 and a debt-to-equity ratio of 1.38.
Axsome Therapeutics (NASDAQ:AXSM – Get Free Report) last announced its quarterly earnings results on Monday, February 23rd. The company reported ($0.56) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.14. Axsome Therapeutics had a negative return on equity of 232.61% and a negative net margin of 28.69%.The company had revenue of $196.00 million during the quarter, compared to analyst estimates of $191.33 million. Axsome Therapeutics’s revenue was up 65.0% on a year-over-year basis. On average, research analysts expect that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CFO Nick Pizzie sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $187.92, for a total value of $2,255,040.00. Following the completion of the sale, the chief financial officer directly owned 42,588 shares of the company’s stock, valued at $8,003,136.96. This trade represents a 21.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Mark L. Jacobson sold 35,378 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $161.88, for a total value of $5,726,990.64. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 112,288 shares of company stock worth $19,408,377. 22.40% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Axsome Therapeutics
Several institutional investors have recently modified their holdings of the stock. Birchview Capital LP lifted its stake in shares of Axsome Therapeutics by 1.0% in the 4th quarter. Birchview Capital LP now owns 6,061 shares of the company’s stock valued at $1,107,000 after purchasing an additional 61 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Axsome Therapeutics by 3.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company’s stock valued at $351,000 after purchasing an additional 65 shares during the last quarter. Xponance LLC lifted its stake in shares of Axsome Therapeutics by 2.4% in the 4th quarter. Xponance LLC now owns 3,265 shares of the company’s stock valued at $596,000 after purchasing an additional 76 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Axsome Therapeutics by 6.6% in the 3rd quarter. Allworth Financial LP now owns 1,442 shares of the company’s stock valued at $175,000 after purchasing an additional 89 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Axsome Therapeutics by 4.2% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 2,190 shares of the company’s stock valued at $400,000 after purchasing an additional 89 shares during the last quarter. 81.49% of the stock is owned by institutional investors.
About Axsome Therapeutics
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.