Axsome Therapeutics (NASDAQ:AXSM) Price Target Cut to $180.00 by Analysts at HC Wainwright

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) had its target price dropped by research analysts at HC Wainwright from $200.00 to $180.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price target suggests a potential upside of 67.04% from the stock's current price.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $153.00 price target on shares of Axsome Therapeutics in a report on Wednesday, February 19th. Morgan Stanley upped their price target on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Royal Bank of Canada raised their price objective on shares of Axsome Therapeutics from $190.00 to $193.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft began coverage on shares of Axsome Therapeutics in a research report on Tuesday, February 11th. They set a "buy" rating and a $176.00 target price on the stock. Finally, Mizuho lifted their price target on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an "outperform" rating in a research report on Thursday, March 27th. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $172.14.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM traded down $1.10 during mid-day trading on Wednesday, hitting $107.76. 435,267 shares of the company were exchanged, compared to its average volume of 682,018. The stock has a 50 day simple moving average of $112.01 and a 200-day simple moving average of $104.51. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $139.13. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of -17.99 and a beta of 0.46.

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

Insiders Place Their Bets

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the 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 transaction, the chief financial officer now owns 42,187 shares of the company's stock, valued at $5,529,450.09. This represents a 6.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 22.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. lifted its holdings in shares of Axsome Therapeutics by 16,852.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company's stock worth $73,176,000 after acquiring an additional 623,717 shares during the period. Boxer Capital Management LLC purchased a new position in Axsome Therapeutics during the fourth quarter worth approximately $39,767,000. Lazard Asset Management LLC grew its stake in shares of Axsome Therapeutics by 525.7% during the 4th quarter. Lazard Asset Management LLC now owns 537,669 shares of the company's stock valued at $45,492,000 after buying an additional 451,737 shares during the period. Norges Bank purchased a new position in shares of Axsome Therapeutics in the 4th quarter worth $34,100,000. Finally, BVF Inc. IL boosted its holdings in Axsome Therapeutics by 32.7% in the fourth 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. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.