Fintel reports that on September 3, 2024, Wells Fargo initiated coverage of Axsome Therapeutics (NasdaqGM:AXSM) with a Overweight recommendation.

Analyst Price Forecast Suggests 42.54% Upside

As of August 26, 2024, the average one-year price target for Axsome Therapeutics is $127.79/share. The forecasts range from a low of $101.00 to a high of $189.00. The average price target represents an increase of 42.54% from its latest reported closing price of $89.65 / share.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Axsome Therapeutics is 400MM, an increase of 37.19%. The projected annual non-GAAP EPS is -0.05.

What is the Fund Sentiment?

There are 494 funds or institutions reporting positions in Axsome Therapeutics. This is an increase of 4 owner(s) or 0.82% in the last quarter. Average portfolio weight of all funds dedicated to AXSM is 0.42%, an increase of 7.74%. Total shares owned by institutions increased in the last three months by 8.83% to 45,283K shares. The put/call ratio of AXSM is 0.43, indicating a bullish outlook.

What are Other Shareholders Doing?

Rtw Investments holds 4,634K shares representing 9.65% ownership of the company. In its prior filing, the firm reported owning 4,493K shares , representing an increase of 3.06%. The firm increased its portfolio allocation in AXSM by 9.14% over the last quarter.

Fairmount Funds Management holds 2,360K shares representing 4.92% ownership of the company. No change in the last quarter.

Deep Track Capital holds 1,853K shares representing 3.86% ownership of the company. In its prior filing, the firm reported owning 1,305K shares , representing an increase of 29.58%. The firm increased its portfolio allocation in AXSM by 49.27% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,189K shares representing 2.48% ownership of the company. In its prior filing, the firm reported owning 1,195K shares , representing a decrease of 0.46%. The firm decreased its portfolio allocation in AXSM by 2.36% over the last quarter.

Macquarie Group holds 1,073K shares representing 2.24% ownership of the company. In its prior filing, the firm reported owning 700K shares , representing an increase of 34.74%. The firm increased its portfolio allocation in AXSM by 23.91% over the last quarter.

Axsome Therapeutics Background Information
(This description is provided by the company.)

Axsome Therapeutics, Inc. is a biopharmaceutical company developing novel therapies for the management of central nervous system (CNS) disorders for which there are limited treatment options. For the many people facing unsatisfactory treatments for CNS disorders, Axsome accelerates the invention and adoption of life-changing medicines. Axsome's core CNS product candidate portfolio includes five clinical-stage candidates, AXS-05, AXS-07, AXS-09, AXS-12, and AXS-14. AXS-05 is being developed for major depressive disorder (MDD), Alzheimer's disease (AD) agitation, and as a treatment for smoking cessation. AXS-07 is being developed for the acute treatment of migraine. AXS-12 is being developed for the treatment of narcolepsy. AXS-14 is being developed for fibromyalgia. AXS-05, AXS-07, AXS-09, AXS-12, and AXS-14 are investigational drug products not approved by the FDA.