Truist Financial Raises Axsome Therapeutics (NASDAQ:AXSM) Price Target to $180.00

Axsome Therapeutics (NASDAQ:AXSM) had its target price increased by investment analysts at Truist Financial from $150.00 to $180.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 124.86% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. Royal Bank of Canada raised their target price on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Mizuho reduced their price target on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating for the company in a research report on Tuesday, December 31st. HC Wainwright reiterated a “buy” rating on shares of Axsome Therapeutics in a research report on Tuesday, December 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $133.00 price target on shares of Axsome Therapeutics in a research report on Monday, January 6th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.43.

Axsome Therapeutics Price Performance

Axsome Therapeutics stock opened at $80.05 on Monday. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $3.88 billion, a PE ratio of -12.26 and a beta of 1.04. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $105.00. The stock has a 50-day moving average price of $92.17 and a two-hundred day moving average price of $89.16.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. During the same quarter in the prior year, the firm posted ($1.32) earnings per share. Analysts expect that Axsome Therapeutics will post -4.6 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. FMR LLC boosted its stake in Axsome Therapeutics by 20.6% during the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after purchasing an additional 185,951 shares during the last quarter. Geode Capital Management LLC lifted its position in Axsome Therapeutics by 2.7% during the third quarter. Geode Capital Management LLC now owns 908,459 shares of the company’s stock valued at $81,659,000 after purchasing an additional 23,564 shares in the last quarter. Wellington Management Group LLP raised its holdings in Axsome Therapeutics by 1.1% during the third quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock valued at $66,750,000 after acquiring an additional 8,125 shares during the period. Millennium Management LLC raised its holdings in Axsome Therapeutics by 1.4% during the second quarter. Millennium Management LLC now owns 739,819 shares of the company’s stock valued at $59,555,000 after acquiring an additional 10,401 shares during the period. Finally, Hood River Capital Management LLC raised its holdings in Axsome Therapeutics by 5.4% during the second quarter. Hood River Capital Management LLC now owns 549,066 shares of the company’s stock valued at $44,200,000 after acquiring an additional 28,316 shares during the period. Institutional investors own 81.49% of the company’s stock.

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.