Axsome Therapeutics (NASDAQ:AXSM) Given New $167.00 Price Target at Bank of America

Axsome Therapeutics (NASDAQ:AXSM) had its price objective hoisted by analysts at Bank of America from $143.00 to $167.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target would suggest a potential upside of 24.96% from the stock’s previous close.

AXSM has been the subject of a number of other reports. Needham & Company LLC reiterated a “buy” rating and set a $133.00 price objective on shares of Axsome Therapeutics in a report on Monday. Royal Bank of Canada reissued an “outperform” rating and set a $139.00 target price on shares of Axsome Therapeutics in a report on Wednesday, January 29th. Robert W. Baird boosted their price objective on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Truist Financial boosted their price target on Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.80.

Axsome Therapeutics Trading Up 5.2 %

AXSM stock traded up $6.56 during midday trading on Tuesday, reaching $133.64. The stock had a trading volume of 153,935 shares, compared to its average volume of 1,056,370. The firm has a market cap of $6.48 billion, a price-to-earnings ratio of -20.47 and a beta of 1.05. Axsome Therapeutics has a twelve month low of $64.11 and a twelve month high of $132.25. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The business has a fifty day simple moving average of $94.72 and a two-hundred day simple moving average of $91.78.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.38) by $0.04. The firm had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same quarter in the prior year, the firm posted ($1.32) earnings per share. As a group, research analysts expect that Axsome Therapeutics will post -4.7 EPS for the current fiscal year.

Institutional Trading of Axsome Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AXSM. Creative Planning boosted its holdings in shares of Axsome Therapeutics by 29.8% during the 3rd quarter. Creative Planning now owns 10,854 shares of the company’s stock valued at $975,000 after buying an additional 2,489 shares in the last quarter. Values First Advisors Inc. purchased a new position in Axsome Therapeutics in the third quarter worth about $568,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Axsome Therapeutics by 22.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after purchasing an additional 318 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Axsome Therapeutics by 4.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,808 shares of the company’s stock worth $1,780,000 after purchasing an additional 754 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Axsome Therapeutics by 65.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,232 shares of the company’s stock valued at $830,000 after purchasing an additional 3,652 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

About Axsome Therapeutics

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.