Axsome Therapeutics (NASDAQ:AXSM) Given “Buy” Rating at HC Wainwright

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $180.00 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 85.51% from the stock’s previous close.

Several other equities research analysts have also commented on AXSM. Robert W. Baird upped their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. UBS Group dropped their target price on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Bank of America upgraded shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and raised their price target for the company from $95.00 to $106.00 in a report on Tuesday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 price objective on shares of Axsome Therapeutics in a research note on Monday, September 16th. Finally, Royal Bank of Canada lifted their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.93.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $97.03 on Monday. The firm has a 50 day simple moving average of $91.09 and a 200-day simple moving average of $85.30. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. The firm has a market cap of $4.70 billion, a PE ratio of -14.93 and a beta of 1.26. Axsome Therapeutics has a 1-year low of $61.14 and a 1-year high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, topping the consensus estimate of ($1.38) by $0.04. The business had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same period in the prior year, the firm posted ($1.32) EPS. On average, equities analysts expect that Axsome Therapeutics will post -4.75 EPS for the current year.

Insider Transactions at Axsome Therapeutics

In other news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the transaction, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. This represents a 52.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System grew its holdings in Axsome Therapeutics by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock worth $695,000 after acquiring an additional 177 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Axsome Therapeutics by 22.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after purchasing an additional 318 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Axsome Therapeutics in the second quarter valued at about $27,000. WCM Investment Management LLC raised its stake in Axsome Therapeutics by 0.3% during the third 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. Finally, US Bancorp DE lifted its holdings in Axsome Therapeutics by 0.3% during the 3rd quarter. US Bancorp DE now owns 133,126 shares of the company’s stock worth $11,964,000 after buying an additional 421 shares during the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

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.