Axsome Therapeutics (NASDAQ:AXSM) Price Target Increased to $112.00 by Analysts at Robert W. Baird

Axsome Therapeutics (NASDAQ:AXSM) had its target price lifted by stock analysts at Robert W. Baird from $108.00 to $112.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 47.48% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. UBS Group initiated coverage on Axsome Therapeutics in a research note on Tuesday, February 6th. They issued a “buy” rating and a $111.00 price objective on the stock. Citigroup lifted their target price on shares of Axsome Therapeutics from $125.00 to $127.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. Piper Sandler boosted their target price on shares of Axsome Therapeutics from $90.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. HC Wainwright reaffirmed a “buy” rating and issued a $190.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, April 2nd. Finally, Guggenheim boosted their price objective on Axsome Therapeutics from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Axsome Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $122.33.

Axsome Therapeutics Trading Up 1.5 %

NASDAQ:AXSM opened at $75.94 on Tuesday. The company has a market capitalization of $3.61 billion, a P/E ratio of -14.60 and a beta of 1.13. The stock’s 50 day moving average price is $74.28 and its 200 day moving average price is $75.64. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.52 and a current ratio of 3.63. Axsome Therapeutics has a 52 week low of $55.02 and a 52 week high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.21) by $0.48. The business had revenue of $71.53 million during the quarter, compared to analyst estimates of $70.38 million. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. On average, research analysts forecast that Axsome Therapeutics will post -3.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Mark L. Jacobson sold 24,662 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Mark L. Jacobson sold 24,662 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $77.24, for a total value of $1,904,892.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $69.70, for a total value of $2,089,327.20. Following the sale, the director now directly owns 120,756 shares of the company’s stock, valued at $8,416,693.20. The disclosure for this sale can be found here. Company insiders own 24.50% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Perceptive Advisors LLC raised its position in shares of Axsome Therapeutics by 115.5% during the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock worth $82,616,000 after purchasing an additional 556,370 shares during the period. Eventide Asset Management LLC acquired a new stake in Axsome Therapeutics in the 3rd quarter valued at $24,232,000. Point72 Asset Management L.P. lifted its position in Axsome Therapeutics by 57.4% during the 4th quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock worth $66,633,000 after buying an additional 305,264 shares in the last quarter. First Turn Management LLC acquired a new position in shares of Axsome Therapeutics during the 4th quarter worth about $23,513,000. Finally, RTW Investments LP grew its holdings in shares of Axsome Therapeutics by 4.8% in the 3rd quarter. RTW Investments LP now owns 4,489,596 shares of the company’s stock valued at $313,778,000 after acquiring an additional 205,319 shares in 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.