Axsome Therapeutics (NASDAQ:AXSM) Stock Price Expected to Rise, Leerink Partners Analyst Says

Axsome Therapeutics (NASDAQ:AXSM) had its price objective raised by Leerink Partners from $150.00 to $205.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Leerink Partners’ price objective would indicate a potential upside of 10.66% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on AXSM. UBS Group raised their price objective on shares of Axsome Therapeutics from $163.00 to $248.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. TD Cowen restated a “buy” rating on shares of Axsome Therapeutics in a research report on Wednesday, December 31st. Robert W. Baird set a $209.00 price objective on Axsome Therapeutics in a research note on Tuesday, January 13th. B. Riley assumed coverage on Axsome Therapeutics in a research note on Wednesday, October 1st. They issued a “buy” rating and a $179.00 target price on the stock. Finally, Piper Sandler raised their target price on Axsome Therapeutics from $148.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Nineteen equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $206.22.

Axsome Therapeutics Price Performance

Shares of AXSM stock opened at $185.26 on Wednesday. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of -39.67, a PEG ratio of 9.76 and a beta of 0.44. Axsome Therapeutics has a 12 month low of $86.99 and a 12 month high of $191.50. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. The stock has a 50-day moving average price of $162.59 and a 200 day moving average price of $135.20.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). Axsome Therapeutics had a negative net margin of 40.90% and a negative return on equity of 277.31%. The business had revenue of $170.99 million for the quarter, compared to analyst estimates of $162.96 million. The business’s revenue was up 63.2% on a year-over-year basis. Research analysts expect that Axsome Therapeutics will post -2.79 EPS for the current year.

Insiders Place Their Bets

In related news, insider Ari Maizel sold 7,500 shares of the stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $184.44, for a total transaction of $1,383,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark E. Saad sold 37,577 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $165.18, for a total transaction of $6,206,968.86. Following the sale, the director owned 10,002 shares in the company, valued at $1,652,130.36. This trade represents a 78.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 440,403 shares of company stock worth $67,191,178. 22.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Large investors have recently made changes to their positions in the stock. Pictet Asset Management Holding SA raised its holdings in shares of Axsome Therapeutics by 20.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 436,063 shares of the company’s stock worth $79,643,000 after acquiring an additional 73,925 shares during the period. UBS Group AG increased its holdings in Axsome Therapeutics by 67.2% during the 4th quarter. UBS Group AG now owns 355,318 shares of the company’s stock worth $64,895,000 after purchasing an additional 142,867 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of Axsome Therapeutics in the 4th quarter valued at about $300,000. HB Wealth Management LLC lifted its holdings in shares of Axsome Therapeutics by 136.7% in the fourth quarter. HB Wealth Management LLC now owns 34,102 shares of the company’s stock valued at $6,228,000 after purchasing an additional 19,696 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Axsome Therapeutics by 2,553.8% in the fourth quarter. M&T Bank Corp now owns 49,466 shares of the company’s stock valued at $8,277,000 after purchasing an additional 47,602 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

About Axsome Therapeutics

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.