Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reiterated by HC Wainwright in a report issued on Monday. They presently have a $15.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 103.80% from the stock’s previous close.
The analysts wrote, “We utilize a risk-adjusted net present value (rNPV) approach to assessing Axsome shares. We apply a 20% discount rate to all future cash flows along with a 28.1% effective tax rate and 33% sales and marketing rate. The probabilities of approval for all of Axsome’s candidates currently range from 10% to 30%.””
A number of other research firms also recently issued reports on AXSM. BTIG Research raised their price objective on shares of Axsome Therapeutics to $20.00 and gave the stock a “buy” rating in a report on Tuesday, January 8th. ValuEngine upgraded shares of Axsome Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday. Cantor Fitzgerald set a $16.00 target price on shares of Axsome Therapeutics and gave the stock a “buy” rating in a research note on Monday, December 10th. Finally, LADENBURG THALM/SH SH reiterated a “positive” rating and issued a $45.00 target price (up previously from $34.00) on shares of Axsome Therapeutics in a research note on Monday, January 7th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $24.00.
Shares of NASDAQ AXSM opened at $7.36 on Monday. The firm has a market cap of $225.09 million, a P/E ratio of -5.94 and a beta of -0.07. Axsome Therapeutics has a 12-month low of $1.94 and a 12-month high of $9.16. The company has a debt-to-equity ratio of 6.00, a quick ratio of 1.46 and a current ratio of 1.46.
Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Friday, November 9th. The company reported ($0.31) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.02. Equities research analysts predict that Axsome Therapeutics will post -1.13 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the business. Worth Venture Partners LLC bought a new stake in Axsome Therapeutics during the third quarter valued at approximately $138,000. Sio Capital Management LLC lifted its position in Axsome Therapeutics by 115.5% during the third quarter. Sio Capital Management LLC now owns 416,458 shares of the company’s stock valued at $1,437,000 after purchasing an additional 223,168 shares during the last quarter. Finally, Alethea Capital Management LLC lifted its position in Axsome Therapeutics by 102.1% during the third quarter. Alethea Capital Management LLC now owns 547,443 shares of the company’s stock valued at $1,889,000 after purchasing an additional 276,620 shares during the last quarter. Institutional investors and hedge funds own 11.85% of the company’s stock.
Axsome Therapeutics Company Profile
Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, is developing novel therapies for central nervous system (CNS) disorders. Its product candidate portfolio includes AXS-05, AXS-09, AXS-02, AXS-07, and AXS-06. AXS-05 is in the Phase III clinical trial in treatment resistant depression and in agitation associated with Alzheimer's disease, as well as in the Phase II clinical trial for smoking cessation.
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