Axsome Therapeutics (NASDAQ:AXSM) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Axsome Therapeutics (NASDAQ:AXSM) had its price objective raised by Morgan Stanley from $125.00 to $190.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

AXSM has been the subject of a number of other research reports. Wells Fargo & Company upped their price target on Axsome Therapeutics from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. HC Wainwright upped their price target on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Royal Bank of Canada upped their price target on Axsome Therapeutics from $143.00 to $192.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $153.00 price target on shares of Axsome Therapeutics in a report on Wednesday, February 19th. Finally, Needham & Company LLC upped their price target on Axsome Therapeutics from $133.00 to $153.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $165.36.

Axsome Therapeutics Stock Down 1.5 %

Shares of NASDAQ:AXSM opened at $126.41 on Thursday. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. Axsome Therapeutics has a 1 year low of $64.11 and a 1 year high of $139.13. The stock has a market capitalization of $6.16 billion, a P/E ratio of -21.10 and a beta of 1.05. The stock has a 50-day simple moving average of $103.53 and a 200-day simple moving average of $95.85.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. The business had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $117.83 million. Equities analysts forecast that Axsome Therapeutics will post -2.79 earnings per share for the current year.

Insider Activity at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the sale, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. This represents a 6.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in AXSM. Raiffeisen Bank International AG acquired a new stake in shares of Axsome Therapeutics during the 4th quarter valued at approximately $51,000. Assetmark Inc. acquired a new stake in shares of Axsome Therapeutics during the 4th quarter valued at approximately $52,000. R Squared Ltd acquired a new stake in shares of Axsome Therapeutics during the 4th quarter valued at approximately $64,000. Aquatic Capital Management LLC acquired a new stake in Axsome Therapeutics in the fourth quarter worth $76,000. Finally, GF Fund Management CO. LTD. acquired a new stake in Axsome Therapeutics in the fourth quarter worth $86,000. 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.