Axsome Therapeutics (NASDAQ:AXSM) Stock Price Expected to Rise, Truist Financial Analyst Says

Axsome Therapeutics (NASDAQ:AXSM) had its price objective hoisted by investment analysts at Truist Financial from $180.00 to $190.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 68.26% from the company’s current price.

A number of other research firms also recently weighed in on AXSM. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $139.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, January 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $121.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, December 12th. HC Wainwright increased their target price on Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, Robert W. Baird increased their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $134.00.

Axsome Therapeutics Trading Up 5.1 %

Shares of Axsome Therapeutics stock opened at $112.92 on Monday. The company has a market capitalization of $5.47 billion, a P/E ratio of -17.29 and a beta of 1.05. 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 $94.09 and a 200 day moving average of $91.27. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $113.33.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The company had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. During the same period last year, the company posted ($1.32) earnings per share. On average, sell-side analysts anticipate that Axsome Therapeutics will post -4.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Axsome Therapeutics during the 2nd quarter worth approximately $27,000. R Squared Ltd purchased a new position in Axsome Therapeutics in the 4th quarter valued at about $64,000. KBC Group NV boosted its stake in shares of Axsome Therapeutics by 40.5% in the fourth quarter. KBC Group NV now owns 1,336 shares of the company’s stock worth $113,000 after acquiring an additional 385 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Axsome Therapeutics by 22.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after buying an additional 318 shares in the last quarter. Finally, Moors & Cabot Inc. purchased a new stake in Axsome Therapeutics during the 3rd quarter valued at about $200,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

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.