Axsome Therapeutics (NASDAQ:AXSM) Receives “Buy” Rating from HC Wainwright

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $180.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 82.41% from the stock’s previous close.

A number of other equities analysts have also recently commented on AXSM. Bank of America upgraded Axsome Therapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $95.00 to $106.00 in a report on Tuesday, August 6th. UBS Group reduced their target price on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Robert W. Baird upped their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company assumed coverage on Axsome Therapeutics in a report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.93.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM opened at $98.68 on Monday. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of -15.11 and a beta of 1.26. The firm has a fifty day moving average price of $90.99 and a 200 day moving average price of $85.13. Axsome Therapeutics has a fifty-two week low of $60.28 and a fifty-two week high of $105.00. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The firm had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. During the same period last year, the firm posted ($1.32) earnings per share. As a group, sell-side analysts expect that Axsome Therapeutics will post -4.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction 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 sale, the director now owns 10,002 shares in the company, valued at $913,282.62. This represents a 52.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 22.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXSM. Russell Investments Group Ltd. grew its holdings in Axsome Therapeutics by 5,550.0% during the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after acquiring an additional 777 shares during the period. Vanguard Group Inc. grew its position in shares of Axsome Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock valued at $298,474,000 after acquiring an additional 43,512 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in Axsome Therapeutics by 136.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 7,370 shares of the company’s stock worth $588,000 after purchasing an additional 4,258 shares during the period. EntryPoint Capital LLC purchased a new position in Axsome Therapeutics during the first quarter worth approximately $35,000. Finally, Kennedy Capital Management LLC grew its holdings in Axsome Therapeutics by 46.0% in the first quarter. Kennedy Capital Management LLC now owns 19,483 shares of the company’s stock valued at $1,555,000 after purchasing an additional 6,136 shares during the period. 81.49% of the stock is owned by institutional investors and hedge funds.

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.