Axsome Therapeutics (NASDAQ:AXSM) Price Target Lowered to $180.00 at HC Wainwright

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) had its price objective lowered by stock analysts at HC Wainwright from $200.00 to $180.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price objective indicates a potential upside of 62.65% from the stock's current price.

A number of other research firms have also commented on AXSM. Mizuho lifted their price objective on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an "outperform" rating in a research note on Thursday, March 27th. William Blair reiterated an "outperform" rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Jefferies Financial Group started coverage on shares of Axsome Therapeutics in a research note on Monday, April 7th. They set a "buy" rating and a $200.00 price target on the stock. Royal Bank of Canada boosted their price target on shares of Axsome Therapeutics from $190.00 to $193.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Finally, Morgan Stanley boosted 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. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Axsome Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $172.14.

Axsome Therapeutics Stock Up 2.7%

NASDAQ:AXSM traded up $2.91 during midday trading on Wednesday, hitting $110.67. 265,294 shares of the company were exchanged, compared to its average volume of 681,070. The company has a fifty day simple moving average of $112.01 and a 200 day simple moving average of $104.70. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $139.13. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The company has a market capitalization of $5.45 billion, a PE ratio of -18.48 and a beta of 0.46.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, beating analysts' consensus estimates of ($0.97) by $0.01. The company had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. As a group, equities analysts anticipate that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the company'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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 22.30% of the company's stock.

Institutional Trading of Axsome Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. BVF Inc. IL lifted its holdings in shares of 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 purchasing an additional 342,064 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Axsome Therapeutics by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 912,538 shares of the company's stock valued at $77,228,000 after buying an additional 4,079 shares during the last quarter. Invesco Ltd. raised its position in shares of Axsome Therapeutics by 10.8% in the fourth quarter. Invesco Ltd. now owns 692,464 shares of the company's stock valued at $58,589,000 after buying an additional 67,285 shares during the last quarter. Hood River Capital Management LLC raised its position in shares of Axsome Therapeutics by 3.2% in the fourth quarter. Hood River Capital Management LLC now owns 644,785 shares of the company's stock valued at $54,555,000 after buying an additional 19,701 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Axsome Therapeutics by 16,852.7% in the first quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company's stock valued at $73,176,000 after buying an additional 623,717 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company's stock.

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.