Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives Consensus Rating of “Buy” from Brokerages

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have received an average rating of “Buy” from the fifteen analysts that are currently covering the firm, Marketbeat Ratings reports. Fifteen research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $167.36.

A number of equities research analysts have recently commented on AXSM shares. Truist Financial increased their price target on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. HC Wainwright reiterated a “buy” rating and set a $200.00 price target on shares of Axsome Therapeutics in a report on Thursday, March 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $153.00 price target on shares of Axsome Therapeutics in a report on Wednesday, February 19th. Robert W. Baird increased their price target on shares of Axsome Therapeutics from $132.00 to $160.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Finally, Morgan Stanley lifted their target price on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th.

Axsome Therapeutics Price Performance

Shares of AXSM opened at $119.45 on Thursday. The stock has a market cap of $5.82 billion, a PE ratio of -19.94 and a beta of 1.00. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $139.13. The firm’s 50-day simple moving average is $110.85 and its two-hundred day simple moving average is $98.42.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The firm had revenue of $118.77 million for the quarter, compared to analysts’ expectations of $117.83 million. Analysts anticipate that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Transactions at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction on Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the transaction, the chief financial officer now owns 42,187 shares in the company, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AXSM. Privium Fund Management B.V. lifted its stake in shares of Axsome Therapeutics by 7.9% during the 3rd quarter. Privium Fund Management B.V. now owns 80,232 shares of the company’s stock valued at $7,210,000 after buying an additional 5,900 shares in the last quarter. Versor Investments LP purchased a new position in shares of Axsome Therapeutics during the 3rd quarter valued at $791,000. WCM Investment Management LLC lifted its stake in shares of Axsome Therapeutics by 0.3% during the 3rd quarter. WCM Investment Management LLC now owns 113,692 shares of the company’s stock valued at $10,191,000 after buying an additional 347 shares in the last quarter. Royce & Associates LP lifted its stake in shares of Axsome Therapeutics by 73.1% during the 3rd quarter. Royce & Associates LP now owns 22,500 shares of the company’s stock valued at $2,022,000 after buying an additional 9,500 shares in the last quarter. Finally, Whalen Wealth Management Inc. purchased a new stake in Axsome Therapeutics in the 3rd quarter worth $236,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

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.