Royal Bank of Canada Boosts Axsome Therapeutics (NASDAQ:AXSM) Price Target to $131.00

Axsome Therapeutics (NASDAQ:AXSM) had its target price increased by Royal Bank of Canada from $130.00 to $131.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also weighed in on AXSM. Mizuho reiterated a buy rating and issued a $106.00 price objective on shares of Axsome Therapeutics in a research report on Wednesday, June 12th. UBS Group lowered their price objective on Axsome Therapeutics from $107.00 to $105.00 and set a buy rating for the company in a research report on Tuesday, August 6th. Bank of America upgraded Axsome Therapeutics from a neutral rating to a buy rating and increased their price objective for the stock from $95.00 to $106.00 in a research report on Tuesday, August 6th. Cantor Fitzgerald reiterated an overweight rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a research report on Monday, September 16th. Finally, Needham & Company LLC restated a buy rating and set a $130.00 price target on shares of Axsome Therapeutics in a research report on Thursday, September 5th. 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.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $124.64.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $86.59 on Friday. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of -13.57 and a beta of 1.26. Axsome Therapeutics has a twelve month low of $55.02 and a twelve month high of $98.40. The company has a current ratio of 2.48, a quick ratio of 2.40 and a debt-to-equity ratio of 1.77. The stock has a 50-day moving average of $89.04 and a 200 day moving average of $80.89.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, August 5th. The company reported ($1.24) EPS for the quarter, beating analysts’ consensus estimates of ($1.30) by $0.06. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. The business had revenue of $87.17 million during the quarter, compared to analysts’ expectations of $84.53 million. Sell-side analysts anticipate that Axsome Therapeutics will post -4.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the transaction, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the transaction, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Mark L. Jacobson sold 47,739 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $84.26, for a total value of $4,022,488.14. Following the transaction, the chief operating officer now directly owns 5,783 shares in the company, valued at approximately $487,275.58. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Axsome Therapeutics by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock valued at $298,474,000 after purchasing an additional 43,512 shares in the last quarter. Perceptive Advisors LLC lifted its position in shares of Axsome Therapeutics by 115.5% during the 4th quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock valued at $82,616,000 after acquiring an additional 556,370 shares during the period. Point72 Asset Management L.P. lifted 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 acquiring an additional 305,264 shares during the period. Millennium Management LLC lifted its position in shares of Axsome Therapeutics by 1.4% during the 2nd 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, Bellevue Group AG lifted its position in shares of Axsome Therapeutics by 7.9% during the 1st quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock valued at $54,701,000 after acquiring an additional 50,104 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.