Axsome Therapeutics (NASDAQ:AXSM) Given New $116.00 Price Target at Robert W. Baird

Axsome Therapeutics (NASDAQ:AXSM) had its price target increased by equities researchers at Robert W. Baird from $112.00 to $116.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 16.59% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. UBS Group decreased their price objective on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Wells Fargo & Company initiated coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective for the company. Royal Bank of Canada lifted their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. HC Wainwright reiterated a “buy” rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Finally, StockNews.com lowered Axsome Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $124.93.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $99.49 on Wednesday. The stock has a 50-day simple moving average of $90.55 and a 200-day simple moving average of $83.95. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.40 and a current ratio of 2.48. The stock has a market capitalization of $4.73 billion, a PE ratio of -15.28 and a beta of 1.26. Axsome Therapeutics has a 1 year low of $55.02 and a 1 year high of $101.50.

Insider Activity

In other news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value of $1,005,870.96. Following the transaction, the director now owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Axsome Therapeutics in the second quarter valued at approximately $27,000. EntryPoint Capital LLC purchased a new stake in shares of Axsome Therapeutics in the first quarter valued at approximately $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Axsome Therapeutics in the second quarter valued at approximately $47,000. Russell Investments Group Ltd. boosted its position 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 purchasing an additional 777 shares in the last quarter. Finally, Covestor Ltd boosted its position in 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 purchasing an additional 1,095 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, 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.