Axsome Therapeutics (NASDAQ:AXSM) Given New $190.00 Price Target at Truist Financial

Axsome Therapeutics (NASDAQ:AXSM) had its price objective lifted by Truist Financial from $180.00 to $190.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a buy rating on the stock.

AXSM has been the subject of a number of other research reports. William Blair restated an “outperform” rating on shares of Axsome Therapeutics in a research report on Friday, January 24th. Mizuho lowered their price objective on shares of Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating for the company in a research report on Tuesday, December 31st. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $121.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Finally, Needham & Company LLC restated a “buy” rating and issued a $133.00 price objective on shares of Axsome Therapeutics in a research report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $134.00.

Axsome Therapeutics Stock Up 0.9 %

AXSM opened at $107.43 on Monday. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $111.51. 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 firm’s fifty day moving average price is $93.57 and its two-hundred day moving average price is $90.90. The company has a market capitalization of $5.21 billion, a P/E ratio of -16.45 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last issued 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. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The company had revenue of $104.76 million for the quarter, compared to the consensus estimate of $98.71 million. During the same quarter in the previous year, the company earned ($1.32) EPS. On average, analysts anticipate that Axsome Therapeutics will post -4.72 EPS for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

A number of large investors have recently modified their holdings of the business. New York State Common Retirement Fund boosted its stake in shares of Axsome Therapeutics by 64.8% during the 4th quarter. New York State Common Retirement Fund now owns 22,491 shares of the company’s stock worth $1,903,000 after buying an additional 8,843 shares during the last quarter. Peregrine Capital Management LLC boosted its stake in shares of Axsome Therapeutics by 21.2% during the 4th quarter. Peregrine Capital Management LLC now owns 87,187 shares of the company’s stock worth $7,377,000 after buying an additional 15,258 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Axsome Therapeutics by 6,002.7% in the 4th quarter. Principal Financial Group Inc. now owns 207,065 shares of the company’s stock valued at $17,520,000 after purchasing an additional 203,672 shares during the period. Strategic Financial Concepts LLC bought a new stake in shares of Axsome Therapeutics in the 4th quarter valued at about $2,599,000. Finally, Lion Street Advisors LLC raised its holdings in shares of Axsome Therapeutics by 16.3% in the 4th quarter. Lion Street Advisors LLC now owns 9,599 shares of the company’s stock valued at $812,000 after purchasing an additional 1,344 shares during the period. 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.