Axsome Therapeutics (NASDAQ:AXSM) Price Target Cut to $125.00 by Analysts at Citigroup

Axsome Therapeutics (NASDAQ:AXSM) had its price objective reduced by Citigroup from $127.00 to $125.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also commented on AXSM. Guggenheim lifted their target price on Axsome Therapeutics from $110.00 to $125.00 and gave the stock a buy rating in a research report on Wednesday, February 21st. Morgan Stanley upgraded shares of Axsome Therapeutics from an equal weight rating to an overweight rating and boosted their target price for the company from $90.00 to $115.00 in a research note on Monday, April 29th. Royal Bank of Canada raised their price target on shares of Axsome Therapeutics from $123.00 to $128.00 and gave the stock an outperform rating in a research report on Tuesday, March 26th. Mizuho boosted their price objective on shares of Axsome Therapeutics from $108.00 to $109.00 and gave the company a buy rating in a research report on Thursday, March 28th. Finally, Truist Financial reissued a buy rating and issued a $150.00 target price on shares of Axsome Therapeutics in a report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Axsome Therapeutics currently has a consensus rating of Moderate Buy and a consensus target price of $121.92.

Axsome Therapeutics Trading Down 2.6 %

NASDAQ AXSM opened at $73.68 on Tuesday. The company’s fifty day moving average price is $73.84 and its two-hundred day moving average price is $75.72. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of -11.55 and a beta of 1.13. Axsome Therapeutics has a 12 month low of $55.02 and a 12 month high of $98.40. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.63 and a quick ratio of 3.52.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($1.21) by $0.48. The business had revenue of $71.53 million for the quarter, compared to analysts’ expectations of $70.38 million. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. As a group, research analysts predict that Axsome Therapeutics will post -3.75 earnings per share for the current fiscal year.

Insider Transactions at Axsome Therapeutics

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

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds have recently modified their holdings of AXSM. Perceptive Advisors LLC lifted its holdings in shares of Axsome Therapeutics by 115.5% in the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock valued at $82,616,000 after buying 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 about $24,232,000. Point72 Asset Management L.P. boosted its position in shares of Axsome Therapeutics by 57.4% during the 4th quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock valued at $66,633,000 after purchasing an additional 305,264 shares in the last quarter. First Turn Management LLC acquired a new position in shares of Axsome Therapeutics in the 4th quarter worth approximately $23,513,000. Finally, RTW Investments LP raised 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 worth $313,778,000 after purchasing an additional 205,319 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.