H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Axsome Therapeutics Inc (AXSM – Research Report) today and set a price target of $30.00. The company’s shares closed last Monday at $23.42.
According to TipRanks.com, Selvaraju has 0 stars on 0-5 star ranking scale with an average return of -16.7% and a 23.5% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries Ltd., Biospecifics Technologies Corp, and Turning Point Therapeutics Inc.
Currently, the analyst consensus on Axsome Therapeutics Inc is a Strong Buy with an average price target of $37.75, representing a 63.9% upside. In a report issued on October 16, Guggenheim also initiated coverage with a Buy rating on the stock with a $48.00 price target.
Based on Axsome Therapeutics Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $13.76 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.