Truist Financial Reiterates “Buy” Rating for Axsome Therapeutics (NASDAQ:AXSM)

Truist Financial reiterated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research report released on Tuesday, Benzinga reports. Truist Financial currently has a $150.00 price target on the stock.

Several other research firms also recently commented on AXSM. Royal Bank of Canada lifted their price objective on Axsome Therapeutics from $123.00 to $128.00 and gave the stock an outperform rating in a report on Tuesday. Piper Sandler lifted their price objective on Axsome Therapeutics from $90.00 to $113.00 and gave the stock an overweight rating in a report on Tuesday, January 16th. HC Wainwright lifted their price objective on Axsome Therapeutics from $180.00 to $190.00 and gave the stock a buy rating in a report on Tuesday. Robert W. Baird began coverage on Axsome Therapeutics in a report on Tuesday, March 19th. They issued an outperform rating and a $108.00 price objective on the stock. Finally, Citigroup lifted their price objective on Axsome Therapeutics from $125.00 to $127.00 and gave the stock a buy rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $119.75.

Axsome Therapeutics Trading Up 0.8 %

NASDAQ AXSM opened at $79.80 on Tuesday. The stock’s 50-day simple moving average is $83.90 and its two-hundred day simple moving average is $75.31. Axsome Therapeutics has a twelve month low of $55.02 and a twelve month high of $98.40. The company has a quick ratio of 3.52, a current ratio of 3.63 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of -15.35 and a beta of 1.17.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.48. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. The business had revenue of $71.53 million for the quarter, compared to the consensus estimate of $70.38 million. Research analysts forecast that Axsome Therapeutics will post -3.73 EPS for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the sale, the director now directly owns 120,756 shares of the company’s stock, valued at approximately $8,416,693.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 24.50% of the company’s stock.

Institutional Trading of Axsome Therapeutics

A number of hedge funds have recently made changes to their positions in AXSM. Washington Trust Advisors Inc. bought a new stake in shares of Axsome Therapeutics in the 4th quarter worth approximately $26,000. Harbour Investments Inc. raised its holdings in Axsome Therapeutics by 461.5% in the 2nd quarter. Harbour Investments Inc. now owns 365 shares of the company’s stock worth $26,000 after acquiring an additional 300 shares during the last quarter. Fifth Third Bancorp raised its holdings in Axsome Therapeutics by 100.0% in the 3rd quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Captrust Financial Advisors raised its holdings in Axsome Therapeutics by 582.0% in the 1st quarter. Captrust Financial Advisors now owns 757 shares of the company’s stock worth $31,000 after acquiring an additional 646 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Axsome Therapeutics by 141.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 815 shares of the company’s stock worth $50,000 after acquiring an additional 477 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

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.