Axsome Therapeutics (NASDAQ:AXSM) Price Target Cut to $125.00 by Analysts at Citigroup

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

Several other equities analysts have also commented on AXSM. HC Wainwright restated a buy rating and issued a $190.00 price objective on shares of Axsome Therapeutics in a report on Tuesday. Royal Bank of Canada upped their price target on Axsome Therapeutics from $123.00 to $128.00 and gave the stock an outperform rating in a research note on Tuesday, March 26th. Guggenheim lifted their price objective on Axsome Therapeutics from $110.00 to $125.00 and gave the company a buy rating in a research note on Wednesday, February 21st. UBS Group assumed coverage on Axsome Therapeutics in a report on Tuesday, February 6th. They issued a buy rating and a $111.00 price objective on the stock. Finally, Cantor Fitzgerald restated an overweight rating and set a $107.00 target price on shares of Axsome Therapeutics in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $122.17.

Axsome Therapeutics Price Performance

NASDAQ:AXSM opened at $76.94 on Tuesday. Axsome Therapeutics has a 52 week low of $55.02 and a 52 week high of $98.40. The stock’s fifty day moving average is $74.14 and its two-hundred day moving average is $75.73. The company has a market capitalization of $3.65 billion, a P/E ratio of -14.80 and a beta of 1.13. The company has a quick ratio of 3.52, a current ratio of 3.63 and a debt-to-equity ratio of 0.93.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.21) by $0.48. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. The firm had revenue of $71.53 million for the quarter, compared to analyst estimates of $70.38 million. Equities analysts expect that Axsome Therapeutics will post -3.75 EPS for the current year.

Insider Activity

In related news, COO Mark L. Jacobson sold 24,662 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $77.24, for a total transaction of $1,904,892.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Mark L. Jacobson sold 24,662 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $77.24, for a total transaction of $1,904,892.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Roger Jeffs sold 29,976 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 120,756 shares of the company’s stock, valued at $8,416,693.20. The disclosure for this sale can be found here. Company insiders own 24.50% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of AXSM. Sei Investments Co. increased its position in shares of Axsome Therapeutics by 8.2% during the first quarter. Sei Investments Co. now owns 35,654 shares of the company’s stock worth $2,845,000 after purchasing an additional 2,697 shares in the last quarter. SG Americas Securities LLC grew its stake in Axsome Therapeutics by 605.5% during the 1st quarter. SG Americas Securities LLC now owns 15,104 shares of the company’s stock worth $1,205,000 after buying an additional 12,963 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in Axsome Therapeutics by 20.4% during the 1st quarter. Mutual of America Capital Management LLC now owns 41,620 shares of the company’s stock worth $3,321,000 after buying an additional 7,042 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Axsome Therapeutics by 9.5% during the first quarter. Janney Montgomery Scott LLC now owns 5,780 shares of the company’s stock worth $461,000 after buying an additional 500 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in Axsome Therapeutics by 323.8% in the first quarter. BNP Paribas Financial Markets now owns 82,544 shares of the company’s stock valued at $6,587,000 after buying an additional 63,067 shares during the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

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.