Axsome Therapeutics (NASDAQ:AXSM) Given New $127.00 Price Target at Citigroup

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

Other equities analysts have also recently issued research reports about the stock. Guggenheim lifted their target price on shares of Axsome Therapeutics from $110.00 to $125.00 and gave the stock a buy rating in a research report on Wednesday, February 21st. Piper Sandler boosted their price objective on Axsome Therapeutics from $90.00 to $113.00 and gave the stock an overweight rating in a research report on Tuesday, January 16th. Cantor Fitzgerald restated an overweight rating and issued a $108.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, February 20th. HC Wainwright reiterated a buy rating and set a $180.00 target price on shares of Axsome Therapeutics in a research note on Wednesday, March 20th. Finally, Royal Bank of Canada increased their price target on shares of Axsome Therapeutics from $123.00 to $128.00 and gave the company an outperform rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Axsome Therapeutics currently has an average rating of Moderate Buy and a consensus price target of $119.75.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $79.80 on Tuesday. The firm has a market capitalization of $3.78 billion, a P/E ratio of -15.35 and a beta of 1.17. Axsome Therapeutics has a 52 week low of $55.02 and a 52 week high of $98.40. The stock has a 50 day moving average price of $83.90 and a two-hundred day moving average price of $75.31. 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) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $70.38 million. Equities analysts forecast that Axsome Therapeutics will post -3.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In related news, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics 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 in the company, valued at approximately $8,416,693.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 24.50% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

A number of hedge funds have recently modified their holdings of the company. Trexquant Investment LP bought a new position in Axsome Therapeutics during the 3rd quarter valued at approximately $1,220,000. Kennedy Capital Management LLC lifted its stake in Axsome Therapeutics by 24.2% in the third quarter. Kennedy Capital Management LLC now owns 12,092 shares of the company’s stock worth $845,000 after acquiring an additional 2,354 shares during the period. Victory Capital Management Inc. boosted its holdings in Axsome Therapeutics by 403.8% in the third quarter. Victory Capital Management Inc. now owns 18,934 shares of the company’s stock valued at $1,323,000 after acquiring an additional 15,176 shares in the last quarter. Wellington Management Group LLP increased its position in Axsome Therapeutics by 18.9% during the 3rd quarter. Wellington Management Group LLP now owns 237,554 shares of the company’s stock valued at $16,603,000 after purchasing an additional 37,843 shares during the period. Finally, Hsbc Holdings PLC bought a new position in Axsome Therapeutics in the 3rd quarter worth $10,427,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.