Axsome Therapeutics (NASDAQ:AXSM) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Axsome Therapeutics (NASDAQ:AXSM) had its price target hoisted by research analysts at Morgan Stanley from $125.00 to $190.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 48.97% from the stock’s previous close.

Several other equities analysts also recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $153.00 target price on shares of Axsome Therapeutics in a research report on Wednesday, February 19th. Truist Financial increased their price target on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Leerink Partners increased their price target on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. HC Wainwright increased their price target on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, William Blair reaffirmed an “outperform” rating on shares of Axsome Therapeutics in a research report on Tuesday, February 18th. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.36.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $127.54 on Thursday. The business’s fifty day simple moving average is $104.27 and its 200-day simple moving average is $96.06. The company has a market cap of $6.22 billion, a PE ratio of -21.29 and a beta of 1.05. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. The firm had revenue of $118.77 million for the quarter, compared to the consensus estimate of $117.83 million. Analysts expect that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Transactions at Axsome Therapeutics

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AXSM. Boxer Capital Management LLC purchased a new position in Axsome Therapeutics in the 4th quarter valued at about $39,767,000. Lazard Asset Management LLC raised its holdings in Axsome Therapeutics by 525.7% in the 4th quarter. Lazard Asset Management LLC now owns 537,669 shares of the company’s stock valued at $45,492,000 after acquiring an additional 451,737 shares during the last quarter. Norges Bank acquired a new stake in Axsome Therapeutics in the 4th quarter valued at about $34,100,000. BVF Inc. IL raised its holdings in Axsome Therapeutics by 32.7% in the 4th quarter. BVF Inc. IL now owns 1,388,064 shares of the company’s stock valued at $117,444,000 after acquiring an additional 342,064 shares during the last quarter. Finally, Iron Triangle Partners LP acquired a new stake in Axsome Therapeutics in the 3rd quarter valued at about $22,671,000. 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.