Truist Financial Issues Positive Forecast for Axsome Therapeutics (NASDAQ:AXSM) Stock Price

Axsome Therapeutics (NASDAQ:AXSM) had its price target raised by research analysts at Truist Financial from $150.00 to $180.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 112.77% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $121.00 price target on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Robert W. Baird boosted their target price on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Needham & Company LLC restated a “buy” rating and issued a $133.00 price target on shares of Axsome Therapeutics in a research report on Monday, January 6th. Royal Bank of Canada raised their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Mizuho reduced their price target on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a report on Tuesday, December 31st. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $129.43.

Axsome Therapeutics Trading Down 5.2 %

Shares of Axsome Therapeutics stock opened at $84.60 on Monday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The company has a fifty day moving average of $92.12 and a 200 day moving average of $89.25. The company has a market capitalization of $4.10 billion, a P/E ratio of -12.96 and a beta of 1.04. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The company had revenue of $104.76 million for the quarter, compared to the consensus estimate of $98.71 million. During the same quarter last year, the company earned ($1.32) EPS. On average, sell-side analysts anticipate that Axsome Therapeutics will post -4.6 earnings per share for the current fiscal year.

Institutional Trading of Axsome Therapeutics

A number of institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in shares of Axsome Therapeutics by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock valued at $19,062,000 after acquiring an additional 27,534 shares in the last quarter. PDT Partners LLC acquired a new stake in shares of Axsome Therapeutics during the third quarter worth $1,052,000. Captrust Financial Advisors purchased a new stake in shares of Axsome Therapeutics during the third quarter valued at $514,000. BNP Paribas Financial Markets increased its position in shares of Axsome Therapeutics by 71.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,733 shares of the company’s stock valued at $1,234,000 after acquiring an additional 5,737 shares during the period. Finally, Pallas Capital Advisors LLC acquired a new stake in Axsome Therapeutics during the 4th quarter worth about $2,237,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

About Axsome Therapeutics

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.