Axsome Therapeutics (AXSM) Received its Third Buy in a Row

After Cantor Fitzgerald and Ladenburg Thalmann & Co. gave Axsome Therapeutics (NASDAQ: AXSM) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Ram Selvaraju reiterated a Buy rating on Axsome Therapeutics today and set a price target of $170.00. The company’s shares closed last Monday at $98.74, close to its 52-week high of $104.98.

According to TipRanks.com, Selvaraju is a 4-star analyst with an average return of 4.8% and a 50.1% 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, implying a 22.6% 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.

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The company has a one-year high of $104.98 and a one-year low of $1.94. Currently, Axsome Therapeutics has an average volume of 1.39M.

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.