Axsome Therapeutics (NASDAQ:AXSM) Given New $192.00 Price Target at Royal Bank of Canada

Axsome Therapeutics (NASDAQ:AXSM) had its target price increased by Royal Bank of Canada from $143.00 to $192.00 in a research note published on Wednesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other analysts also recently issued research reports about the company. Mizuho raised their price target on Axsome Therapeutics from $137.00 to $195.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Robert W. Baird boosted their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Wells Fargo & Company increased their price objective on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Needham & Company LLC boosted their target price on shares of Axsome Therapeutics from $133.00 to $153.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, HC Wainwright restated a “buy” rating and issued a $190.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $154.80.

Axsome Therapeutics Stock Down 0.9 %

AXSM stock opened at $126.96 on Wednesday. The firm has a fifty day moving average price of $99.64 and a two-hundred day moving average price of $94.22. 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 1-year low of $64.11 and a 1-year high of $134.18. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of -19.44 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The firm had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. Research analysts predict that Axsome Therapeutics will post -4.59 EPS for the current year.

Insider Transactions at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Hedge funds have recently modified their holdings of the stock. GF Fund Management CO. LTD. purchased a new position in Axsome Therapeutics in the 4th quarter worth about $86,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new position in shares of Axsome Therapeutics in the fourth quarter worth approximately $2,853,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Axsome Therapeutics by 20.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,642 shares of the company’s stock valued at $4,877,000 after acquiring an additional 9,928 shares during the period. Woodline Partners LP lifted its position in shares of Axsome Therapeutics by 36.8% in the 4th quarter. Woodline Partners LP now owns 408,441 shares of the company’s stock valued at $34,558,000 after acquiring an additional 109,872 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Axsome Therapeutics by 85.3% in the 4th quarter. Two Sigma Advisers LP now owns 6,300 shares of the company’s stock worth $533,000 after purchasing an additional 2,900 shares during the period. 81.49% of the stock is owned by hedge funds and other 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.