Axsome Therapeutics Price Target Increased to $190.00

Axsome Therapeutics (NASDAQ:AXSM) has seen its price target raised significantly by analysts at Morgan Stanley, who updated their forecast from $125.00 to $190.00 in a recent research note. This upgrade suggests a potential upside of 48.06% from the stock's current trading price. Moreover, Morgan Stanley classified Axsome Therapeutics with an "overweight" rating, indicating their positive outlook on the stock's performance.

In addition to Morgan Stanley's report, various other firms have also provided updates on Axsome Therapeutics. For instance, Cantor Fitzgerald reiterated an "overweight" rating with a price target of $153.00, while Royal Bank of Canada has increased its target from $143.00 to $192.00, suggesting an "outperform" rating. Robert W. Baird established a target of $132.00, and Truist Financial raised its objective from $190.00 to $200.00 with a "buy" rating. Bank of America has also shown optimism by adjusting its price objective from $143.00 to $167.00, maintaining a "buy" rating. Overall, among analysts, one has issued a hold rating, while fifteen have rated the stock as a buy. The average rating currently stands at "Moderate Buy" with a consensus target price of $165.36.

Current Stock Performance

On Thursday, shares of Axsome Therapeutics traded at $128.33. The stock's performance indicates a quick ratio of 2.04, a current ratio of 2.11, and a debt-to-equity ratio of 3.22. The shares have experienced a 12-month range, hitting a low of $64.11 and a high of $139.13. With a market capitalization of $6.26 billion, Axsome Therapeutics has reported a price-to-earnings ratio of -21.42 and a beta of 1.05. Its fifty-day simple moving average is currently at $102.78, while the 200-day average stands at $95.62.

Earnings Report Insights

Axsome Therapeutics recently released its quarterly earnings report, revealing a loss of ($0.96) in earnings per share, slightly beating the consensus estimate of ($0.97). The company noted a negative return on equity of 223.51% and a negative net margin of 74.47%. Furthermore, revenue for the quarter was reported at $118.77 million, above the expected $117.83 million, with analysts projecting an EPS of -2.79 for the current fiscal year.

Insider Activity

In insider trading news, Axsome's CFO, Nick Pizzie, sold 3,000 shares at an average price of $131.07, totaling $393,210.00. Post-sale, Pizzie holds 42,187 shares, valued at approximately $5.53 million, which reflects a 6.64% reduction in his holding. Insider ownership stands at 22.40% of the company’s stock.

Institutional Investments

Recent changes in institutional holdings also reflect growing interest in Axsome Therapeutics. Several hedge funds acquired new positions in the company. For example, TFG Asset Management GP Ltd invested about $3.49 million. Meanwhile, GF Fund Management CO. LTD. bought stakes worth $86,000 during the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired approximately $2.85 million in shares, and UBS Asset Management raised its holdings by 20.8%, owning 57,642 shares valued at $4.88 million after adding nearly 10,000 shares. In total, institutional investors and hedge funds own about 81.49% of Axsome Therapeutics stock.

Company Overview

Axsome Therapeutics is a biopharmaceutical company focused on developing innovative therapies for central nervous system disorders in the United States. Their product lineup includes Auvelity, which is indicated for major depressive disorder, and Sunosi, used for treating excessive daytime sleepiness in conditions like narcolepsy and obstructive sleep apnea.

Axsome, Therapeutics, Stock