Robert W. Baird Forecasts Strong Price Appreciation for Axsome Therapeutics (NASDAQ:AXSM) Stock

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) had its price target hoisted by investment analysts at Robert W. Baird from $160.00 to $162.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Robert W. Baird's price objective points to a potential upside of 39.07% from the stock's previous close.

AXSM has been the subject of several other reports. William Blair reissued an "outperform" rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Mizuho raised their price objective on Axsome Therapeutics from $212.00 to $216.00 and gave the stock an "outperform" rating in a research note on Thursday, March 27th. Morgan Stanley lifted their target price on Axsome Therapeutics from $125.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. HC Wainwright reaffirmed a "buy" rating and set a $200.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, April 3rd. Finally, Bank of America raised their target price on Axsome Therapeutics from $143.00 to $167.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $170.00.

Axsome Therapeutics Stock Up 3.8 %

AXSM opened at $116.49 on Tuesday. The stock has a market cap of $5.73 billion, a P/E ratio of -19.45 and a beta of 0.46. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $139.13. The stock's 50 day moving average price is $113.35 and its 200 day moving average price is $104.18.

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. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The business had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. As a group, research analysts predict that Axsome Therapeutics will post -2.79 earnings per share for the current year.

Insider Activity at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the transaction, the chief financial officer now directly owns 42,187 shares in the company, valued at $5,529,450.09. This represents a 6.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 22.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Several large investors have recently added to or reduced their stakes in AXSM. Assenagon Asset Management S.A. lifted its stake in Axsome Therapeutics by 16,852.7% during the first quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company's stock worth $73,176,000 after purchasing an additional 623,717 shares during the period. Boxer Capital Management LLC acquired a new position in shares of 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 fourth quarter. Lazard Asset Management LLC now owns 537,669 shares of the company's stock valued at $45,492,000 after purchasing an additional 451,737 shares during the last quarter. Norges Bank bought a new position in Axsome Therapeutics in the 4th quarter valued at $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. Institutional investors and hedge funds 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.

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