Axsome Therapeutics (NASDAQ:AXSM) Given New $112.00 Price Target at Robert W. Baird

Axsome Therapeutics (NASDAQ:AXSM - Free Report) had its price target raised by Robert W. Baird from $108.00 to $112.00 in a research note released on Tuesday, Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also issued research reports about the company. Cantor Fitzgerald reissued an overweight rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, April 10th. Royal Bank of Canada upped their price target on shares of Axsome Therapeutics from $123.00 to $128.00 and gave the company an outperform rating in a research note on Tuesday, March 26th. Mizuho lifted their price objective on shares of Axsome Therapeutics from $108.00 to $109.00 and gave the company a buy rating in a research note on Thursday, March 28th. UBS Group began coverage on Axsome Therapeutics in a research report on Tuesday, February 6th. They set a buy rating and a $111.00 target price on the stock. Finally, Morgan Stanley upgraded Axsome Therapeutics from an equal weight rating to an overweight rating and lifted their price target for the company from $90.00 to $115.00 in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $122.17.

Axsome Therapeutics Stock Performance

AXSM stock traded up $1.00 during mid-day trading on Tuesday, hitting $76.94. The company had a trading volume of 1,284,522 shares, compared to its average volume of 715,307. Axsome Therapeutics has a 12 month low of $55.02 and a 12 month high of $98.40. The stock's fifty day moving average price is $74.14 and its two-hundred day moving average price is $75.73. The firm has a market cap of $3.65 billion, a PE ratio of -14.80 and a beta of 1.13. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.52 and a current ratio of 3.63.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($1.21) by $0.48. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. The business had revenue of $71.53 million for the quarter, compared to the consensus estimate of $70.38 million. On average, analysts forecast that Axsome Therapeutics will post -3.75 earnings per share for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other news, Director Roger Jeffs sold 29,976 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total value of $2,089,327.20. Following the transaction, the director now owns 120,756 shares of the company's stock, valued at approximately $8,416,693.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Mark L. Jacobson sold 24,662 shares of the firm's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $77.24, for a total transaction of $1,904,892.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Roger Jeffs sold 29,976 shares of the company's stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $69.70, for a total value of $2,089,327.20. Following the completion of the sale, the director now directly owns 120,756 shares of the company's stock, valued at approximately $8,416,693.20. The disclosure for this sale can be found here. 24.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Hedge funds have recently made changes to their positions in the business. Washington Trust Advisors Inc. purchased a new position in Axsome Therapeutics in the 4th quarter worth $26,000. Fifth Third Bancorp lifted its stake in shares of Axsome Therapeutics by 100.0% in the 3rd quarter. Fifth Third Bancorp now owns 400 shares of the company's stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Axsome Therapeutics by 110.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,204 shares of the company's stock valued at $84,000 after acquiring an additional 633 shares during the period. Janiczek Wealth Management LLC bought a new position in Axsome Therapeutics during the 1st quarter worth approximately $97,000. Finally, SG Americas Securities LLC purchased a new position in Axsome Therapeutics in the 4th quarter worth approximately $170,000. 81.49% of the stock is currently owned by institutional investors.

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.