Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives $124.57 Average PT from Analysts

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has been assigned an average recommendation of “Buy” from the fourteen ratings firms that are presently covering the stock, MarketBeat reports. Fourteen research analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have covered the stock in the last year is $124.57.

A number of brokerages have recently commented on AXSM. StockNews.com lowered shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 target price on shares of Axsome Therapeutics in a research report on Monday. Mizuho reiterated a “buy” rating and issued a $106.00 target price on shares of Axsome Therapeutics in a report on Wednesday, June 12th. Bank of America upgraded Axsome Therapeutics from a “neutral” rating to a “buy” rating and raised their price target for the company from $95.00 to $106.00 in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada lowered their price objective 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.

Insider Buying and Selling

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the sale, the director now directly owns 10,002 shares in the company, valued at $913,282.62. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, COO Mark L. Jacobson sold 47,739 shares of Axsome Therapeutics stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now directly owns 5,783 shares in the company, valued at approximately $487,275.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the sale, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. The disclosure for this sale can be found here. 22.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Avidity Partners Management LP raised its stake in Axsome Therapeutics by 54.8% in the 4th quarter. Avidity Partners Management LP now owns 459,400 shares of the company’s stock worth $36,564,000 after acquiring an additional 162,600 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Axsome Therapeutics in the fourth quarter worth about $669,000. Vanguard Group Inc. lifted its holdings in shares of Axsome Therapeutics by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock worth $298,474,000 after purchasing an additional 43,512 shares during the period. Bellevue Group AG boosted its position in Axsome Therapeutics by 7.9% in the first quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock valued at $54,701,000 after buying an additional 50,104 shares during the last quarter. Finally, Affinity Asset Advisors LLC acquired a new position in Axsome Therapeutics in the 4th quarter worth approximately $3,980,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock opened at $91.54 on Thursday. The company has a quick ratio of 2.40, a current ratio of 2.48 and a debt-to-equity ratio of 1.77. The stock’s fifty day moving average is $87.47 and its two-hundred day moving average is $79.37. Axsome Therapeutics has a 52 week low of $55.02 and a 52 week high of $98.40. The company has a market capitalization of $4.35 billion, a PE ratio of -14.35 and a beta of 1.25.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Monday, August 5th. The company reported ($1.24) EPS for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.06. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. The firm had revenue of $87.17 million for the quarter, compared to analysts’ expectations of $84.53 million. As a group, analysts expect that Axsome Therapeutics will post -4.73 earnings per share for the current year.

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.