Axsome Therapeutics, Inc. (NASDAQ:AXSM) Given Consensus Recommendation of “Buy” by Brokerages

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has earned an average rating of “Buy” from the fourteen brokerages that are currently covering the company, MarketBeat Ratings reports. Fourteen equities research analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $124.93.

A number of equities analysts have issued reports on the stock. Wells Fargo & Company began coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, November 12th. HC Wainwright restated a “buy” rating and set a $180.00 target price on shares of Axsome Therapeutics in a report on Monday, November 25th. UBS Group lowered their price target on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Bank of America raised shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $95.00 to $106.00 in a research note on Tuesday, August 6th.

Axsome Therapeutics Price Performance

NASDAQ AXSM opened at $98.22 on Tuesday. The firm has a market cap of $4.76 billion, a P/E ratio of -15.04 and a beta of 1.26. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $105.00. 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 stock’s 50-day moving average is $91.53 and its two-hundred day moving average is $85.88.

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 firm had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same period in the previous year, the business posted ($1.32) EPS. On average, analysts anticipate that Axsome Therapeutics will post -4.66 earnings per share for the current fiscal year.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 10,002 shares in the company, valued at approximately $913,282.62. The trade was a 52.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 22.40% of the stock is owned by insiders.

Institutional Trading of Axsome Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. grew its position in Axsome Therapeutics by 47.5% in the third quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock valued at $13,713,000 after purchasing an additional 51,696 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Axsome Therapeutics by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 908,459 shares of the company’s stock valued at $81,659,000 after acquiring an additional 23,564 shares in the last quarter. Barclays PLC raised its holdings in Axsome Therapeutics by 279.6% during the third quarter. Barclays PLC now owns 61,785 shares of the company’s stock worth $5,552,000 after acquiring an additional 45,509 shares in the last quarter. Wellington Management Group LLP raised its holdings in Axsome Therapeutics by 1.1% during the third quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock worth $66,750,000 after acquiring an additional 8,125 shares in the last quarter. Finally, Iron Triangle Partners LP acquired a new position in Axsome Therapeutics during the third quarter valued at approximately $22,671,000. Institutional investors 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.