UBS Group Issues Positive Forecast for Axsome Therapeutics (NASDAQ:AXSM) Stock Price

Key Points

• UBS raised its price target on Axsome to $259 (from $251) and kept a "buy" rating, implying roughly a 45.46% upside; other firms have also boosted targets and the MarketBeat consensus is a "Moderate Buy" with a $218.06 target.
• AXSM traded around $178.05 with a market cap of $9.11B and a 52‑week range of $93.95–$191.50; the company reported $196M revenue (+65% YoY) and beat quarterly EPS estimates but remains unprofitable with negative margins and an expected -2.79 EPS for the year.
• Insiders sold 112,288 shares worth about $19.4M in the last 90 days (including CEO and COO sales), while institutional investors own roughly 81.5% of the stock.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) had its target price hoisted by stock analysts at UBS Group from $251.00 to $259.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. UBS Group's target price suggests a potential upside of 45.46% from the stock's previous close.

Other analysts have also issued research reports about the company. Guggenheim boosted their price target on Axsome Therapeutics from $220.00 to $245.00 and gave the company a "buy" rating in a report on Wednesday, March 25th. Leerink Partners boosted their price target on Axsome Therapeutics from $150.00 to $205.00 and gave the company an "outperform" rating in a report on Wednesday, January 28th. Truist Financial raised Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, March 25th. Oppenheimer reissued an "outperform" rating and set a $220.00 price target on shares of Axsome Therapeutics in a report on Wednesday, December 31st. Finally, Jefferies Financial Group set a $215.00 price target on Axsome Therapeutics in a report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $218.06.

Axsome Therapeutics Stock Performance

AXSM stock traded down $0.85 during midday trading on Friday, reaching $178.05. 151,186 shares of the company's stock traded hands, compared to its average volume of 639,619. Axsome Therapeutics has a 52-week low of $93.95 and a 52-week high of $191.50. The stock has a market cap of $9.11 billion, a P/E ratio of -48.25 and a beta of 0.48. The company has a current ratio of 1.55, a quick ratio of 1.48 and a debt-to-equity ratio of 1.38. The stock's 50-day moving average is $170.37 and its 200 day moving average is $155.16.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its earnings results on Monday, February 23rd. The company reported ($0.56) EPS for the quarter, beating analysts' consensus estimates of ($0.70) by $0.14. Axsome Therapeutics had a negative net margin of 28.69% and a negative return on equity of 232.61%. The business had revenue of $196.00 million during the quarter, compared to analysts' expectations of $191.33 million. The firm's quarterly revenue was up 65.0% on a year-over-year basis. As a group, analysts anticipate that Axsome Therapeutics will post -2.79 EPS for the current year.

Insider Activity

In other news, COO Mark L. Jacobson sold 35,378 shares of the firm's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $161.88, for a total transaction of $5,726,990.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Herriot Tabuteau sold 32,410 shares of the firm's stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $185.60, for a total transaction of $6,015,296.00. Following the sale, the chief executive officer owned 7,229 shares in the company, valued at $1,341,702.40. The trade was a 81.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 112,288 shares of company stock worth $19,408,377. 22.30% of the stock is currently owned by insiders.

Institutional Trading of Axsome Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of AXSM. Rockefeller Capital Management L.P. increased its holdings in Axsome Therapeutics by 29.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,453 shares of the company's stock valued at $1,361,000 after acquiring an additional 1,716 shares during the last quarter. SHP Wealth Management purchased a new position in shares of Axsome Therapeutics in the 4th quarter worth $172,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Axsome Therapeutics in the 4th quarter worth $76,000. Seven Fleet Capital Management LP purchased a new position in shares of Axsome Therapeutics in the 4th quarter worth $2,366,000. Finally, Virtu Financial LLC purchased a new position in shares of Axsome Therapeutics in the 4th quarter worth $2,844,000. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome's pipeline includes several late-stage and approved product candidates.

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