Truist Financial Issues Positive Forecast for Axsome Therapeutics (NASDAQ:AXSM) Stock Price

Axsome Therapeutics (NASDAQ:AXSM) had its target price raised by Truist Financial from $150.00 to $180.00 in a research report report published on Monday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on AXSM. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. HC Wainwright reiterated a “buy” rating on shares of Axsome Therapeutics in a research note on Tuesday, December 31st. Robert W. Baird boosted their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Mizuho cut their price target on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $121.00 target price on shares of Axsome Therapeutics in a report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.43.

Axsome Therapeutics Stock Up 11.5 %

Axsome Therapeutics stock opened at $89.27 on Monday. The company’s 50-day moving average price is $92.21 and its two-hundred day moving average price is $89.22. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of -13.67 and a beta of 1.04. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $105.00. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Tuesday, November 12th. The company reported ($1.34) EPS 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 the consensus estimate 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 period in the prior year, the business posted ($1.32) earnings per share. On average, analysts expect that Axsome Therapeutics will post -4.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System increased its stake in Axsome Therapeutics by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock valued at $695,000 after purchasing an additional 177 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Axsome Therapeutics by 22.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after purchasing an additional 318 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Axsome Therapeutics in the second quarter worth $27,000. WCM Investment Management LLC lifted its position in Axsome Therapeutics by 0.3% during the third quarter. WCM Investment Management LLC now owns 113,692 shares of the company’s stock valued at $10,191,000 after purchasing an additional 347 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Axsome Therapeutics by 0.3% in the 3rd quarter. US Bancorp DE now owns 133,126 shares of the company’s stock worth $11,964,000 after purchasing an additional 421 shares in 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.