Cantor Fitzgerald restated their overweight rating on shares of Axsome Therapeutics (NASDAQ:AXSM – Free Report) in a research note published on Friday morning, Benzinga reports. Cantor Fitzgerald currently has a $107.00 price target on the stock.
A number of other brokerages have also recently weighed in on AXSM. Needham & Company LLC reiterated a buy rating and set a $130.00 price target on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Royal Bank of Canada decreased their target price on shares of Axsome Therapeutics from $131.00 to $130.00 and set an outperform rating for the company in a research note on Tuesday, August 6th. UBS Group lowered their price target on Axsome Therapeutics from $107.00 to $105.00 and set a buy rating on the stock in a report on Tuesday, August 6th. Wells Fargo & Company initiated coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an overweight rating and a $140.00 price objective for the company. Finally, StockNews.com cut Axsome Therapeutics from a hold rating to a sell rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $124.57.
Read Our Latest Stock Analysis on AXSM
Axsome Therapeutics Stock Up 1.0 %
Axsome Therapeutics (NASDAQ:AXSM – Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.30) by $0.06. The company had revenue of $87.17 million during the quarter, compared to analysts’ expectations of $84.53 million. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. Equities research analysts forecast that Axsome Therapeutics will post -4.72 earnings per share for the current year.
Insider Activity at Axsome Therapeutics
In other news, COO Mark L. Jacobson sold 47,739 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the transaction, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at approximately $487,275.58. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 22.40% of the company’s stock.
Institutional Investors Weigh In On Axsome Therapeutics
A number of hedge funds and other institutional investors have recently modified their holdings of AXSM. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Axsome Therapeutics in the 2nd quarter worth approximately $27,000. EntryPoint Capital LLC purchased a new stake in Axsome Therapeutics during the first quarter worth $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Axsome Therapeutics in the second quarter valued at $47,000. Russell Investments Group Ltd. increased its position in shares of Axsome Therapeutics by 5,550.0% in the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after buying an additional 777 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of Axsome Therapeutics by 54,750.0% during the 1st quarter. Covestor Ltd now owns 1,097 shares of the company’s stock worth $88,000 after buying an additional 1,095 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.
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.
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