Axsome Therapeutics (NASDAQ:AXSM) Stock Price Target Lowered at Royal Bank Of Canada

Axsome Therapeutics (NASDAQ:AXSM) had its price objective reduced by research analysts at Royal Bank Of Canada from $295.00 to $273.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada‘s target price points to a potential upside of 91.53% from the stock’s previous close.

Several other brokerages have also issued reports on AXSM. Weiss Ratings reissued a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Thursday, October 15th. Truist Financial raised their price objective on shares of Axsome Therapeutics from $200.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, September 23rd. Mizuho lifted their price objective on shares of Axsome Therapeutics from $306.00 to $316.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. HC Wainwright reiterated a “buy” rating on shares of Axsome Therapeutics in a research note on Friday, September 25th. Finally, Robert W. Baird dropped their target price on shares of Axsome Therapeutics from $246.00 to $220.00 and set an “outperform” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $269.79.

Axsome Therapeutics Trading Up 4.8%

Shares of AXSM stock traded up $6.53 during mid-day trading on Tuesday, hitting $142.54. The company’s stock had a trading volume of 234,313 shares, compared to its average volume of 778,643. The company has a market cap of $7.47 billion, a PE ratio of -37.96 and a beta of 0.86. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43. The company’s fifty day simple moving average is $183.33 and its 200-day simple moving average is $198.74. Axsome Therapeutics has a 52 week low of $123.00 and a 52 week high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, November 2nd. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.38. Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%. The company had revenue of $259.69 million for the quarter, compared to analyst estimates of $249.19 million. During the same quarter in the prior year, the company earned ($0.94) EPS. The firm’s revenue for the quarter was up 51.9% compared to the same quarter last year. As a group, equities research analysts expect that Axsome Therapeutics will post -3.04 earnings per share for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark Jacobson sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $208.65, for a total value of $2,086,500.00. Following the completion of the sale, the chief operating officer owned 10,000 shares of the company’s stock, valued at approximately $2,086,500. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Herriot Tabuteau sold 45,004 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $212.01, for a total value of $9,541,298.04. Following the sale, the chief executive officer owned 7,229 shares of the company’s stock, valued at approximately $1,532,620.29. This represents a 86.16% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 59,664 shares of company stock worth $12,624,805. Corporate insiders own 20.60% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Several hedge funds have recently bought and sold shares of AXSM. Hollencrest Capital Management grew its stake in Axsome Therapeutics by 400.0% in the 1st quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock valued at $34,000 after purchasing an additional 160 shares during the period. ABS Investment Management LLC bought a new stake in shares of Axsome Therapeutics during the 2nd quarter worth $171,339,000. ABS Direct Equity Fund LLC bought a new stake in shares of Axsome Therapeutics during the 2nd quarter worth $60,000. Silvant Capital Management LLC purchased a new stake in Axsome Therapeutics during the second quarter worth about $66,000. Finally, Parkside Financial Bank & Trust increased its holdings in Axsome Therapeutics by 505.4% during the second quarter. Parkside Financial Bank & Trust now owns 339 shares of the company’s stock worth $83,000 after buying an additional 283 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

More Axsome Therapeutics News

Here are the key news stories impacting Axsome Therapeutics this week:

• Positive Sentiment: Axsome reported third-quarter revenue of $259.7 million, up 51.9% year over year and above the $249.2 million consensus estimate. Its adjusted loss of $0.25 per share was substantially narrower than the expected $0.63 loss and the year-ago loss of $0.94. Axsome Third-Quarter Results
• Positive Sentiment: Sales increased across Axsome’s key commercial brands, while management highlighted pipeline milestones expected in 2027. The earnings call also pointed to broader growth opportunities beyond the current product portfolio. Axsome Sales and Pipeline Update
• Neutral Sentiment: Axsome will participate in four healthcare investor conferences from November 9 through November 16. The events could provide updates on commercialization plans, clinical programs and future growth. Axsome Investor Conferences
• Negative Sentiment: Analysts lowered their price targets despite maintaining favorable ratings: Robert W. Baird cut its target to $220 from $246 while keeping an “outperform” rating, UBS reduced its target to $239 from $256, and Piper Sandler lowered its target to $235 from $238. The reductions signal more cautious expectations, although the targets remain well above the current trading level. Baird Axsome Price Target
• Negative Sentiment: Investor concerns center on AUVELITY’s slower-than-expected adoption for Alzheimer’s-related agitation. Recent growth appears to be driven more by prescriptions for depression in patients under 65 than by the newer Alzheimer’s opportunity, while some quarterly revenue benefit came from one-time items and improved gross-to-net dynamics rather than sustainable volume growth. Axsome Launch Concerns

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. Founded in 2012 and headquartered in New York, the company develops medicines for conditions with significant unmet medical needs, including depression, narcolepsy, excessive daytime sleepiness, and other neurological disorders.

Axsome’s commercial products include Auvelity (dextromethorphan and bupropion), an oral treatment approved in the United States for major depressive disorder in adults, and Sunosi (solriamfetol), a therapy for excessive daytime sleepiness associated with narcolepsy or obstructive sleep apnea.