AXSM - Wall Street Analysts Predict a 49.36% Upside in Axsome: Here's What You Should Know | Benzinga
Axsome Therapeutics (NASDAQ: AXSM) closed the last trading session at $83.74, gaining 10.2% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $125.07 indicates a 49.4% upside potential.
The mean estimate comprises 15 short-term price targets with a standard deviation of $26.54. While the lowest estimate of $97 indicates a 15.8% increase from the current price level, the most optimistic analyst expects the stock to surge 126.9% to reach $190. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.
However, an impressive consensus price target is not the only factor that indicates a potential upside in AXSM. This view is strengthened by the agreement among analysts that the company will report better earnings than what ...