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

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have received an average rating of “Buy” from the fourteen research firms that are currently covering the company, MarketBeat reports. Fourteen equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have covered the stock in the last year is $124.64.

A number of equities analysts have recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $130.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, September 5th. UBS Group dropped their price target on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a research note on Monday, September 16th. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company initiated coverage on Axsome Therapeutics in a report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price target for the company.

Axsome Therapeutics Price Performance

AXSM stock opened at $89.03 on Friday. The company has a market capitalization of $4.23 billion, a P/E ratio of -13.95 and a beta of 1.26. The company has a fifty day moving average price of $90.16 and a 200-day moving average price of $82.54. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.40 and a current ratio of 2.48. Axsome Therapeutics has a 52-week low of $55.02 and a 52-week high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, August 5th. The company reported ($1.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.30) by $0.06. The business had revenue of $87.17 million during the quarter, compared to analyst estimates of $84.53 million. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. As a group, equities analysts expect that Axsome Therapeutics will post -4.73 EPS for the current year.

Insider Activity

In other news, COO Mark L. Jacobson sold 47,739 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the sale, the chief operating officer now owns 5,783 shares in the company, valued at $487,275.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction dated 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Mark L. Jacobson sold 47,739 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the transaction, the chief operating officer now directly owns 5,783 shares in the company, valued at approximately $487,275.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 22.40% of the stock is currently owned by company insiders.

Institutional Trading of Axsome Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Natixis grew its stake in shares of Axsome Therapeutics by 13.6% in the 1st quarter. Natixis now owns 1,235 shares of the company’s stock worth $99,000 after acquiring an additional 148 shares in the last quarter. Arizona State Retirement System grew its position in Axsome Therapeutics by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock worth $695,000 after purchasing an additional 177 shares in the last quarter. Principal Financial Group Inc. increased its stake in Axsome Therapeutics by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 9,773 shares of the company’s stock valued at $780,000 after buying an additional 276 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Axsome Therapeutics by 22.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after buying an additional 318 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in shares of Axsome Therapeutics in the 2nd quarter worth approximately $27,000. 81.49% of the stock is owned by institutional investors.

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.