H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Axsome Therapeutics (AXSM – Research Report) today and set a price target of $200.00. The company’s shares closed last Monday at $101.98, close to its 52-week high of $107.87.
According to TipRanks.com, Selvaraju is a 4-star analyst with an average return of 6.7% and a 48.6% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries, Turning Point Therapeutics, and Biospecifics Technologies.
Currently, the analyst consensus on Axsome Therapeutics is a Strong Buy with an average price target of $123.50, which is a 16.2% upside from current levels. In a report issued on December 16, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $104.00 price target.
Based on Axsome Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $19.14 million. In comparison, last year the company had a GAAP net loss of $8.28 million.
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AXSM in relation to earlier this year.
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Axsome Therapeutics, Inc. is a clinical stage biopharmaceutical company, which engages in developing novel therapies for the management of central nervous system disorders. Its product candidates include AXS-02 and AXS-06 which are developing for multiple indications.