Wells Fargo & Company Boosts Axsome Therapeutics (NASDAQ:AXSM) Price Target to $160.00

Axsome Therapeutics (NASDAQ:AXSM) had its price target lifted by Wells Fargo & Company from $140.00 to $160.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Axsome Therapeutics in a research note on Tuesday. They set a “buy” rating and a $176.00 price target for the company. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. William Blair reissued an “outperform” rating on shares of Axsome Therapeutics in a research report on Friday, January 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $121.00 price objective on shares of Axsome Therapeutics in a report on Thursday, December 12th. Finally, Bank of America upped their target price on Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $147.13.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $131.55 on Wednesday. The company has a fifty day moving average price of $96.55 and a 200 day moving average price of $92.67. The firm has a market cap of $6.37 billion, a PE ratio of -20.15 and a beta of 1.05. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $134.18.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. During the same period last year, the company earned ($1.32) earnings per share. Research analysts predict that Axsome Therapeutics will post -4.7 earnings per share for the current fiscal year.

Institutional Trading of Axsome Therapeutics

A number of hedge funds have recently modified their holdings of AXSM. Norges Bank bought a new stake in shares of Axsome Therapeutics during the 4th quarter worth about $34,100,000. Iron Triangle Partners LP acquired a new position in shares of Axsome Therapeutics in the third quarter valued at approximately $22,671,000. Principal Financial Group Inc. increased its stake in shares of Axsome Therapeutics by 6,002.7% during the fourth quarter. Principal Financial Group Inc. now owns 207,065 shares of the company’s stock worth $17,520,000 after purchasing an additional 203,672 shares during the period. FMR LLC lifted its holdings in Axsome Therapeutics by 20.6% during the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after purchasing an additional 185,951 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Axsome Therapeutics in the 4th quarter valued at $14,771,000. 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.