Axsome Therapeutics (NASDAQ:AXSM) Cut to Sell at StockNews.com

StockNews.com cut shares of Axsome Therapeutics (NASDAQ:AXSM) from a hold rating to a sell rating in a research report released on Tuesday morning.

Several other research firms have also recently issued reports on AXSM. HC Wainwright reiterated a “buy” rating and issued a $180.00 price target on shares of Axsome Therapeutics in a report on Thursday, September 5th. 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 price target on shares of Axsome Therapeutics in a research report on Monday, September 16th. Wells Fargo & Company assumed coverage on shares of Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective on the stock. Finally, Royal Bank of Canada lifted their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $124.93.

Axsome Therapeutics Price Performance

Shares of AXSM stock opened at $97.37 on Tuesday. Axsome Therapeutics has a 1 year low of $56.66 and a 1 year high of $105.00. The company has a current ratio of 2.44, a quick ratio of 2.40 and a debt-to-equity ratio of 1.97. The firm’s 50 day moving average is $90.59 and its 200-day moving average is $84.05. The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of -14.96 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.38) by $0.04. The firm had revenue of $104.76 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned ($1.32) EPS. Sell-side analysts forecast that Axsome Therapeutics will post -5.12 EPS for the current fiscal year.

Insider Transactions at Axsome Therapeutics

In other news, Director Mark E. Saad sold 11,016 shares of the business’s 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 of the company’s stock, valued at $913,282.62. The trade was a 52.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 22.40% of the stock is owned by insiders.

Institutional Trading of Axsome Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in AXSM. Natixis grew its holdings in Axsome Therapeutics by 13.6% during the first quarter. Natixis now owns 1,235 shares of the company’s stock worth $99,000 after purchasing an additional 148 shares during the period. Arizona State Retirement System lifted its position in shares of Axsome Therapeutics by 2.1% in the second quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock valued at $695,000 after buying an additional 177 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 acquiring an additional 318 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Axsome Therapeutics during the 2nd quarter worth approximately $27,000. Finally, WCM Investment Management LLC raised its stake in Axsome Therapeutics by 0.3% in the 3rd quarter. WCM Investment Management LLC now owns 113,692 shares of the company’s stock valued at $10,191,000 after acquiring an additional 347 shares during the period. 81.49% of the stock is owned by institutional investors.

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.