Axsome Therapeutics (NASDAQ:AXSM) Price Target Lowered to $125.00 at Citigroup

Axsome Therapeutics (NASDAQ:AXSM - Free Report) had its target price trimmed by Citigroup from $127.00 to $125.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also issued reports on the company. Piper Sandler raised their target price on Axsome Therapeutics from $90.00 to $113.00 and gave the company an overweight rating in a report on Tuesday, January 16th. Morgan Stanley upgraded shares of Axsome Therapeutics from an equal weight rating to an overweight rating and raised their price objective for the stock from $90.00 to $115.00 in a research note on Monday, April 29th. HC Wainwright reiterated a buy rating and set a $190.00 target price on shares of Axsome Therapeutics in a research note on Tuesday. Mizuho raised their price target on shares of Axsome Therapeutics from $108.00 to $109.00 and gave the stock a buy rating in a research report on Thursday, March 28th. Finally, UBS Group assumed coverage on shares of Axsome Therapeutics in a report on Tuesday, February 6th. They set a buy rating and a $111.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Axsome Therapeutics currently has an average rating of Moderate Buy and a consensus target price of $122.17.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock traded up $1.00 on Tuesday, reaching $76.94. The stock had a trading volume of 1,284,522 shares, compared to its average volume of 715,307. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.52 and a current ratio of 3.63. The business's 50-day moving average price is $74.28 and its two-hundred day moving average price is $75.64. The stock has a market cap of $3.65 billion, a P/E ratio of -14.49 and a beta of 1.13. Axsome Therapeutics has a fifty-two week low of $55.02 and a fifty-two week high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its earnings results on Tuesday, February 20th. The company reported ($0.73) earnings per share for the quarter, topping analysts' consensus estimates of ($1.21) by $0.48. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. The firm had revenue of $71.53 million during the quarter, compared to analyst estimates of $70.38 million. On average, sell-side analysts forecast that Axsome Therapeutics will post -3.75 EPS for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Axsome Therapeutics

A number of large investors have recently bought and sold shares of AXSM. Perceptive Advisors LLC boosted its stake in Axsome Therapeutics by 115.5% in the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company's stock worth $82,616,000 after purchasing an additional 556,370 shares in the last quarter. Eventide Asset Management LLC acquired a new position in Axsome Therapeutics during the 3rd quarter worth about $24,232,000. Point72 Asset Management L.P. lifted its position in Axsome Therapeutics by 57.4% during the 4th quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company's stock worth $66,633,000 after buying an additional 305,264 shares in the last quarter. First Turn Management LLC bought a new stake in Axsome Therapeutics during the 4th quarter worth about $23,513,000. Finally, RTW Investments LP increased its position in Axsome Therapeutics by 4.8% in the 3rd quarter. RTW Investments LP now owns 4,489,596 shares of the company's stock valued at $313,778,000 after acquiring an additional 205,319 shares in the last quarter. 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.