Robert W. Baird Boosts Axsome Therapeutics (NASDAQ:AXSM) Price Target to $116.00

Axsome Therapeutics (NASDAQ:AXSM) had its target price boosted by analysts at Robert W. Baird from $112.00 to $116.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 19.13% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on AXSM. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price target on shares of Axsome Therapeutics in a report on Monday, September 16th. UBS Group reduced their target price on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Royal Bank of Canada boosted their price target on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company assumed coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price objective on the stock. Finally, StockNews.com lowered shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $124.93.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $97.37 on Wednesday. The business’s 50-day moving average price is $90.59 and its 200 day moving average price is $84.05. The company has a current ratio of 2.44, a quick ratio of 2.40 and a debt-to-equity ratio of 1.97. Axsome Therapeutics has a twelve month low of $56.66 and a twelve month high of $105.00. The company has a market capitalization of $4.62 billion, a PE ratio of -14.96 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The firm had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. During the same quarter in the prior year, the business posted ($1.32) earnings per share. On average, research analysts predict that Axsome Therapeutics will post -5.12 earnings per share for the current year.

Insider Transactions at Axsome Therapeutics

In related news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were 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 in the company, valued at $913,282.62. This trade represents a 52.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its stake in Axsome Therapeutics by 9.5% during the first quarter. Janney Montgomery Scott LLC now owns 5,780 shares of the company’s stock valued at $461,000 after buying an additional 500 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Axsome Therapeutics by 605.5% during the 1st quarter. SG Americas Securities LLC now owns 15,104 shares of the company’s stock valued at $1,205,000 after purchasing an additional 12,963 shares in the last quarter. Sei Investments Co. lifted its stake in Axsome Therapeutics by 8.2% during the first quarter. Sei Investments Co. now owns 35,654 shares of the company’s stock valued at $2,845,000 after purchasing an additional 2,697 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Axsome Therapeutics by 5,550.0% during the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after buying an additional 777 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in Axsome Therapeutics by 9.0% in the first quarter. ProShare Advisors LLC now owns 9,724 shares of the company’s stock worth $776,000 after buying an additional 800 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

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.