Axsome Therapeutics (NASDAQ:AXSM) Given New $116.00 Price Target at Robert W. Baird

Axsome Therapeutics (NASDAQ:AXSM) had its price target increased by Robert W. Baird from $112.00 to $116.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 16.59% from the stock’s previous close.

Other analysts also recently issued reports about the company. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a research report on Monday, September 16th. Royal Bank of Canada upped their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. UBS Group reduced their price objective on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Wells Fargo & Company started coverage on Axsome Therapeutics in a research report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $130.00 target price on shares of Axsome Therapeutics in a research note on Tuesday. One analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.93.

Axsome Therapeutics Stock Up 9.4 %

AXSM opened at $99.49 on Wednesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.40 and a current ratio of 2.48. Axsome Therapeutics has a one year low of $55.02 and a one year high of $101.50. The business’s fifty day moving average is $90.55 and its two-hundred day moving average is $83.95. The company has a market cap of $4.73 billion, a price-to-earnings ratio of -15.28 and a beta of 1.26.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the transaction, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 22.40% of the stock is currently owned by company insiders.

Institutional Trading of Axsome Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in AXSM. Janney Montgomery Scott LLC raised its position in shares of Axsome Therapeutics by 9.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 5,780 shares of the company’s stock worth $461,000 after purchasing an additional 500 shares during the period. SG Americas Securities LLC raised its position in shares of 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 purchasing an additional 12,963 shares during the period. Sei Investments Co. raised its position in shares of Axsome Therapeutics by 8.2% during the 1st 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 during the period. Russell Investments Group Ltd. raised its position in shares of Axsome Therapeutics by 5,550.0% during the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after purchasing an additional 777 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of Axsome Therapeutics by 9.0% during the 1st quarter. ProShare Advisors LLC now owns 9,724 shares of the company’s stock worth $776,000 after purchasing an additional 800 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.