Axsome Therapeutics (NASDAQ:AXSM) Shares Gap Down – Time to Sell?

Axsome Therapeutics, Inc. (NASDAQ:AXSM) gapped down before the market opened on Tuesday . The stock had previously closed at $116.63, but opened at $112.43. Axsome Therapeutics shares last traded at $107.13, with a volume of 241,275 shares traded.

Analyst Ratings Changes

A number of analysts recently commented on the company. Royal Bank of Canada raised their price target on Axsome Therapeutics from $143.00 to $192.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $153.00 price objective on shares of Axsome Therapeutics in a research report on Wednesday, February 19th. Bank of America increased their target price on Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $153.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday. Finally, Wells Fargo & Company boosted their price target on Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $167.64.

Axsome Therapeutics Stock Down 1.7 %

The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of -18.32 and a beta of 0.88. The firm has a 50-day moving average of $120.62 and a 200 day moving average of $101.58. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.01. The business had revenue of $118.77 million for the quarter, compared to the consensus estimate of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. As a group, sell-side analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares in the company, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Several institutional investors have recently bought and sold shares of the stock. Raiffeisen Bank International AG bought a new position in Axsome Therapeutics in the 4th quarter worth approximately $51,000. Assetmark Inc. purchased a new position in shares of Axsome Therapeutics in the fourth quarter valued at about $52,000. R Squared Ltd purchased a new stake in Axsome Therapeutics in the fourth quarter worth $64,000. Aquatic Capital Management LLC purchased a new position in shares of Axsome Therapeutics during the 4th quarter worth approximately $76,000. Finally, GF Fund Management CO. LTD. bought a new position in shares of Axsome Therapeutics in the 4th quarter worth about $86,000. 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.