Wells Fargo & Company Forecasts Strong Price Appreciation for Axsome Therapeutics (NASDAQ:AXSM) Stock

Axsome Therapeutics (NASDAQ:AXSM) had its price target raised by research analysts at Wells Fargo & Company from $140.00 to $160.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 21.51% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Mizuho upped their target price on shares of Axsome Therapeutics from $137.00 to $195.00 and gave the stock an “outperform” rating in a research report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $121.00 target price on shares of Axsome Therapeutics in a research report on Thursday, December 12th. HC Wainwright reiterated a “buy” rating and issued a $190.00 target price on shares of Axsome Therapeutics in a research report on Tuesday. Finally, Truist Financial upped their target price on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.13.

Axsome Therapeutics Stock Up 0.1 %

AXSM opened at $131.68 on Wednesday. The company has a fifty day moving average price of $96.55 and a 200-day moving average price of $92.67. The firm has a market capitalization of $6.38 billion, a P/E ratio of -20.17 and a beta of 1.05. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. Axsome Therapeutics has a one year low of $64.11 and a one year high of $134.18.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. The firm had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same period in the previous year, the business earned ($1.32) EPS. Equities research analysts expect that Axsome Therapeutics will post -4.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in Axsome Therapeutics in the fourth quarter worth about $34,100,000. Iron Triangle Partners LP bought a new position in Axsome Therapeutics in the third quarter worth about $22,671,000. Principal Financial Group Inc. raised its stake in Axsome Therapeutics by 6,002.7% in the fourth quarter. Principal Financial Group Inc. now owns 207,065 shares of the company’s stock worth $17,520,000 after buying an additional 203,672 shares in the last quarter. FMR LLC raised its stake in Axsome Therapeutics by 20.6% in the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after buying an additional 185,951 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Axsome Therapeutics in the fourth quarter worth about $14,771,000. 81.49% of the stock is owned by institutional investors.

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.