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

Axsome Therapeutics (NASDAQ:AXSM) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Tuesday.

Several other analysts have also recently weighed in on the company. Wells Fargo & Company began coverage on Axsome Therapeutics in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price objective on the stock. UBS Group decreased their price target on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. HC Wainwright reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Bank of America raised shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and raised their target price for the company from $95.00 to $106.00 in a report on Tuesday, August 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $124.64.

Axsome Therapeutics Price Performance

AXSM traded up $8.51 during trading on Tuesday, reaching $99.49. The stock had a trading volume of 1,564,837 shares, compared to its average volume of 618,232. The stock has a market cap of $4.73 billion, a PE ratio of -15.28 and a beta of 1.26. The business has a 50-day moving average of $90.55 and a 200-day moving average of $83.95. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.40 and a current ratio of 2.48. Axsome Therapeutics has a one year low of $55.02 and a one year high of $101.50.

Insider Buying and Selling at Axsome Therapeutics

In related news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.40% of the stock is currently owned by company insiders.

Institutional Trading of Axsome Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Axsome Therapeutics by 1.2% in the first 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 period. Bellevue Group AG lifted its holdings 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 acquiring an additional 50,104 shares during the last quarter. XTX Topco Ltd raised its holdings in Axsome Therapeutics by 177.9% in the 2nd quarter. XTX Topco Ltd now owns 11,205 shares of the company’s stock valued at $902,000 after buying an additional 7,173 shares during the period. Tri Locum Partners LP boosted its position in shares of Axsome Therapeutics by 198.4% during the 2nd quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock worth $24,674,000 after purchasing an additional 203,802 shares during the period. Finally, Blair William & Co. IL raised its holdings in shares of Axsome Therapeutics by 645.9% in the 1st quarter. Blair William & Co. IL now owns 63,547 shares of the company’s stock valued at $5,071,000 after buying an additional 55,027 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.