Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $167.00 at Bank of America

Axsome Therapeutics (NASDAQ:AXSM) had its price objective hoisted by Bank of America from $143.00 to $167.00 in a report released on Tuesday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Needham & Company LLC reissued a “buy” rating and issued a $133.00 price target on shares of Axsome Therapeutics in a report on Monday. Mizuho raised their target price on shares of Axsome Therapeutics from $137.00 to $195.00 and gave the stock an “outperform” rating in a report on Tuesday. Leerink Partners lifted their price target on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday. Royal Bank of Canada reiterated an “outperform” rating and set a $139.00 price objective on shares of Axsome Therapeutics in a research report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Axsome Therapeutics in a report on Tuesday. They issued a “buy” rating and a $176.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $145.80.

Axsome Therapeutics Stock Performance

AXSM opened at $132.20 on Tuesday. The business has a 50 day moving average price of $95.28 and a two-hundred day moving average price of $92.07. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of -20.25 and a beta of 1.05. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $134.19.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data 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. The business had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same quarter in the prior year, the firm posted ($1.32) earnings per share. Research analysts predict that Axsome Therapeutics will post -4.7 EPS for the current fiscal year.

Institutional Trading of Axsome Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in shares of 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 in the last quarter. Geode Capital Management LLC increased 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 worth $81,659,000 after buying an additional 23,564 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Axsome Therapeutics by 1.1% in the third quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock worth $66,750,000 after buying an additional 8,125 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Axsome Therapeutics by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company’s stock worth $27,755,000 after buying an additional 5,438 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in shares of Axsome Therapeutics by 11.0% during the 3rd quarter. Loomis Sayles & Co. L P now owns 298,586 shares of the company’s stock worth $26,834,000 after acquiring an additional 29,497 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.