Morgan Stanley lifts Axsome Therapeutics Inc. [AXSM] price estimate. Who else is bullish?


Axsome Therapeutics Inc. [NASDAQ: AXSM] stock went on an upward path that rose over 25.14% on Tuesday, amounting to a one-week price increase of more than 1.19%. The company report on March 28, 2022 that Axsome Therapeutics to Acquire Sunosi® from Jazz Pharmaceuticals, Expanding Axsome’s Leadership in Neuroscience.

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Sunosi is the first and only dual-acting dopamine and norepinephrine reuptake inhibitor (DNRI) approved by the FDA to improve wakefulness in adults living with excessive daytime sleepiness associated with narcolepsy or obstructive sleep apnea.

Acquisition accelerates Axsome’s transformation into a global commercial entity ahead of potential near-term launches of AXS-05 in major depressive disorder (MDD) and AXS-07 in migraine .

Over the last 12 months, AXSM stock dropped by -19.18%. The one-year Axsome Therapeutics Inc. stock forecast points to a potential upside of 49.61. The average equity rating for AXSM stock is currently 1.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.62 billion, with 37.77 million shares outstanding and 30.33 million shares in the current float. Compared to the average trading volume of 732.00K shares, AXSM stock reached a trading volume of 10967066 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Axsome Therapeutics Inc. [AXSM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AXSM shares is $81.21 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AXSM stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Axsome Therapeutics Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on August 10, 2021. While these analysts kept the previous recommendation, Berenberg raised their target price to Buy. The new note on the price target was released on June 10, 2021, representing the official price target for Axsome Therapeutics Inc. stock. Previously, the target price had yet another raise to $129, while Jefferies analysts kept a Buy rating on AXSM stock.

The Average True Range (ATR) for Axsome Therapeutics Inc. is set at 3.22 The Price to Book ratio for the last quarter was 99.80, with the Price to Cash per share for the same quarter was set at 2.18.

AXSM Stock Performance Analysis:

Axsome Therapeutics Inc. [AXSM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.19. With this latest performance, AXSM shares gained by 21.75% in over the last four-week period, additionally sinking by -0.49% over the last 6 months – not to mention a drop of -19.18% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AXSM stock in for the last two-week period is set at 55.98, with the RSI for the last a single of trading hit 55.43, and the three-weeks RSI is set at 56.24 for Axsome Therapeutics Inc. [AXSM]. The present Moving Average for the last 50 days of trading for this stock 34.23, while it was recorded at 37.37 for the last single week of trading, and 35.66 for the last 200 days.

Insight into Axsome Therapeutics Inc. Fundamentals:

Return on Equity for this stock declined to -201.51, with Return on Assets sitting at -95.21.

Axsome Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.80 and a Current Ratio set at 3.80.

Axsome Therapeutics Inc. [AXSM] Insider Position Details

There are presently around $625 million, or 49.20% of AXSM stock, in the hands of institutional investors. The top three institutional holders of AXSM stocks are: VANGUARD GROUP INC with ownership of 2,685,622, which is approximately 1.082% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 2,109,622 shares of the stock with an approximate value of $68.98 million in AXSM stocks shares; and RTW INVESTMENTS, LP, currently with $52.94 million in AXSM stock with ownership of nearly 0.144% of the company’s market capitalization.

Positions in Axsome Therapeutics Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 71 institutional holders increased their position in Axsome Therapeutics Inc. [NASDAQ:AXSM] by around 2,306,033 shares. Additionally, 88 investors decreased positions by around 3,057,833 shares, while 33 investors held positions by with 13,755,099 shares. The mentioned changes placed institutional holdings at 19,118,965 shares, according to the latest SEC report filing. AXSM stock had 20 new institutional investments in for a total of 1,290,938 shares, while 27 institutional investors sold positions of 724,776 shares during the same period.