Axsome Therapeutics (NASDAQ:AXSM) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of Axsome Therapeutics (NASDAQ:AXSM) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

Other equities analysts also recently issued reports about the stock. Cantor Fitzgerald restated an overweight rating and issued a $107.00 target price on shares of Axsome Therapeutics in a research note on Friday, July 26th. Mizuho restated a buy rating and set a $106.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, June 12th. UBS Group lowered their target price on Axsome Therapeutics from $107.00 to $105.00 and set a buy rating for the company in a report on Tuesday, August 6th. Needham & Company LLC restated a buy rating and set a $130.00 price target on shares of Axsome Therapeutics in a research note on Monday, August 5th. Finally, Citigroup lowered their price objective on shares of Axsome Therapeutics from $127.00 to $125.00 and set a buy rating for the company in a research note on Tuesday, May 7th. One analyst has rated the stock with a sell rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $123.38.

Axsome Therapeutics Stock Up 0.7 %

Shares of AXSM opened at $86.17 on Wednesday. The firm has a fifty day moving average price of $81.49 and a 200-day moving average price of $79.11. The company has a current ratio of 3.20, a quick ratio of 3.09 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $4.09 billion, a P/E ratio of -13.51 and a beta of 1.26. Axsome Therapeutics has a 12-month low of $55.02 and a 12-month high of $98.40.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 7,910 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total value of $587,792.10. Following the completion of the sale, the chief operating officer now directly owns 5,783 shares in the company, valued at $429,734.73. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, COO Mark L. Jacobson sold 7,910 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $74.31, for a total value of $587,792.10. Following the completion of the transaction, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at approximately $429,734.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mark L. Jacobson sold 47,739 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.26, for a total value of $4,022,488.14. Following the sale, the chief operating officer now owns 5,783 shares in the company, valued at approximately $487,275.58. The disclosure for this sale can be found here. Insiders sold a total of 60,898 shares of company stock worth $5,005,058 over the last three months. Corporate insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Axsome Therapeutics by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock valued at $298,474,000 after purchasing an additional 43,512 shares during the last quarter. Perceptive Advisors LLC grew its position in Axsome Therapeutics by 115.5% in the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock worth $82,616,000 after acquiring an additional 556,370 shares during the period. Point72 Asset Management L.P. increased its stake in Axsome Therapeutics by 57.4% during the fourth quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock worth $66,633,000 after acquiring an additional 305,264 shares during the last quarter. Millennium Management LLC raised its position in Axsome Therapeutics by 1.4% in the second quarter. Millennium Management LLC now owns 739,819 shares of the company’s stock valued at $59,555,000 after purchasing an additional 10,401 shares during the period. Finally, Bellevue Group AG lifted its stake in shares of Axsome Therapeutics by 7.9% in the 1st quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock valued at $54,701,000 after purchasing an additional 50,104 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

About Axsome Therapeutics

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company's commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.