Truist Financial Forecasts Strong Price Appreciation for Axsome Therapeutics (NASDAQ:AXSM) Stock

Axsome Therapeutics (NASDAQ:AXSM) had its target price hoisted by investment analysts at Truist Financial from $150.00 to $180.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 124.86% from the stock’s current price.

A number of other analysts have also issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $133.00 price target on shares of Axsome Therapeutics in a research report on Monday, January 6th. Royal Bank of Canada increased their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. HC Wainwright restated a “buy” rating on shares of Axsome Therapeutics in a report on Tuesday, December 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $121.00 price target on shares of Axsome Therapeutics in a report on Thursday, December 12th. Finally, Mizuho lowered their price target on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a report on Tuesday, December 31st. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $129.43.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $80.05 on Monday. The firm has a 50-day moving average price of $92.17 and a 200 day moving average price of $89.16. The firm has a market capitalization of $3.88 billion, a PE ratio of -12.26 and a beta of 1.04. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. Axsome Therapeutics has a 52-week low of $64.11 and a 52-week high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The company had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. During the same period in the prior year, the company earned ($1.32) EPS. On average, sell-side analysts anticipate that Axsome Therapeutics will post -4.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in Axsome Therapeutics by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock valued at $19,062,000 after buying an additional 27,534 shares in the last quarter. PDT Partners LLC acquired a new position in Axsome Therapeutics in the 3rd quarter valued at $1,052,000. Captrust Financial Advisors acquired a new position in Axsome Therapeutics in the 3rd quarter valued at $514,000. BNP Paribas Financial Markets grew its holdings in Axsome Therapeutics by 71.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,733 shares of the company’s stock valued at $1,234,000 after buying an additional 5,737 shares in the last quarter. Finally, Erste Asset Management GmbH acquired a new position in Axsome Therapeutics in the 3rd quarter valued at $986,000. 81.49% of the stock is 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.