Axsome Therapeutics (NASDAQ:AXSM) Lifted to Hold at StockNews.com

Axsome Therapeutics (NASDAQ:AXSM) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

Other equities analysts have also issued research reports about the stock. Bank of America upgraded shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and raised their price objective for the company from $95.00 to $106.00 in a research report on Tuesday, August 6th. Mizuho restated a “buy” rating and set a $106.00 target price on shares of Axsome Therapeutics in a report on Wednesday, June 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price target on shares of Axsome Therapeutics in a report on Thursday, September 5th. UBS Group reduced their price objective on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 target price on shares of Axsome Therapeutics in a research report on Monday, September 16th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $124.57.

Axsome Therapeutics Stock Performance

AXSM opened at $93.24 on Tuesday. The business has a 50 day moving average price of $88.77 and a two-hundred day moving average price of $80.59. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.48 and a quick ratio of 2.40. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of -14.61 and a beta of 1.25. Axsome Therapeutics has a 1-year low of $55.02 and a 1-year high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, beating the consensus estimate of ($1.30) by $0.06. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. The business had revenue of $87.17 million during the quarter, compared to analyst estimates of $84.53 million. Research analysts predict that Axsome Therapeutics will post -4.73 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mark E. Saad sold 11,016 shares of the business’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 transaction of $1,005,870.96. Following the transaction, the director now directly owns 10,002 shares of the company’s stock, valued at $913,282.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Mark L. Jacobson sold 47,739 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the sale, 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 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 Axsome Therapeutics stock in a transaction dated 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 sale, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. The disclosure for this sale can be found here. Corporate insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Axsome Therapeutics during the second quarter valued at about $47,000. Clearbridge Investments LLC raised its stake in shares of Axsome Therapeutics by 19.5% in the 2nd quarter. Clearbridge Investments LLC now owns 106,767 shares of the company’s stock valued at $8,595,000 after acquiring an additional 17,397 shares in the last quarter. Dana Investment Advisors Inc. lifted its holdings in Axsome Therapeutics by 3.7% in the 2nd quarter. Dana Investment Advisors Inc. now owns 19,724 shares of the company’s stock worth $1,588,000 after purchasing an additional 697 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in Axsome Therapeutics by 17.1% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 11,354 shares of the company’s stock worth $914,000 after purchasing an additional 1,656 shares during the period. Finally, Quarry LP boosted its position in Axsome Therapeutics by 77.8% during the second quarter. Quarry LP now owns 3,200 shares of the company’s stock worth $258,000 after purchasing an additional 1,400 shares during the period. 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.