William Blair analyst Myles Minter reiterated a Buy rating on Axsome Therapeutics (AXSM) on August 31. The company’s shares closed last Friday at $67.41.
According to TipRanks.com, Minter is a 4-star analyst with an average return of 20.7% and a 34.8% success rate. Minter covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Minerva Neurosciences, and Karuna Therapeutics.
Currently, the analyst consensus on Axsome Therapeutics is a Strong Buy with an average price target of $210.00, implying a 195.8% upside from current levels. In a report issued on August 21, H.C. Wainwright also reiterated a Buy rating on the stock with a $210.00 price target.
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Based on Axsome Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $18.33 million. In comparison, last year the company had a GAAP net loss of $13.76 million.
Based on the recent corporate insider activity of 6 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. The company was founded by Herriot Tabuteau on January 12, 2012 and is headquartered in New York, NY.
