Leerink Partners Issues Positive Forecast for Axsome Therapeutics (NASDAQ:AXSM) Stock Price

Axsome Therapeutics (NASDAQ:AXSM) had its price objective raised by Leerink Partners from $110.00 to $150.00 in a research note released on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also recently weighed in on AXSM. Royal Bank of Canada reaffirmed an “outperform” rating and set a $139.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, January 29th. Mizuho lifted their price target on shares of Axsome Therapeutics from $122.00 to $137.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $121.00 price target on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Needham & Company LLC reissued a “buy” rating and set a $133.00 target price on shares of Axsome Therapeutics in a research report on Monday. Finally, StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $135.14.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM opened at $127.08 on Monday. The company has a market cap of $6.16 billion, a PE ratio of -19.46 and a beta of 1.05. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $132.25. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. The company has a 50-day simple moving average of $94.72 and a 200-day simple moving average of $91.78.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping 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 business had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $98.71 million. During the same period last year, the company earned ($1.32) earnings per share. On average, equities analysts anticipate that Axsome Therapeutics will post -4.7 earnings per share for the current year.

Institutional Trading of Axsome Therapeutics

Several institutional investors have recently added to or reduced their stakes in AXSM. Northwestern Mutual Wealth Management Co. bought a new stake in Axsome Therapeutics during the second quarter valued at $27,000. Creative Planning grew its position in shares of Axsome Therapeutics by 29.8% during the third quarter. Creative Planning now owns 10,854 shares of the company’s stock worth $975,000 after acquiring an additional 2,489 shares during the last quarter. Values First Advisors Inc. bought a new position in shares of Axsome Therapeutics during the third quarter worth about $568,000. Mirae Asset Global Investments Co. Ltd. grew its position 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 acquiring an additional 318 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Axsome Therapeutics by 4.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,808 shares of the company’s stock valued at $1,780,000 after buying an additional 754 shares in the last quarter. Institutional investors 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.