Axsome Therapeutics (NASDAQ:AXSM) Upgraded at StockNews.com

StockNews.com upgraded shares of Axsome Therapeutics (NASDAQ:AXSM) from a sell rating to a hold rating in a research report report published on Wednesday morning.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada boosted their target price on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a report on Monday, September 16th. Robert W. Baird raised their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Wells Fargo & Company started coverage on shares of Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 target price on the stock. Finally, UBS Group decreased their price objective on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $124.93.

Axsome Therapeutics Price Performance

Shares of AXSM stock opened at $98.68 on Wednesday. The firm’s 50 day moving average price is $90.89 and its two-hundred day moving average price is $84.85. 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 has a 52-week low of $60.28 and a 52-week high of $105.00. The stock has a market cap of $4.78 billion, a PE ratio of -15.04 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results 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 business had revenue of $104.76 million for the quarter, compared to analyst estimates 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 last year, the company earned ($1.32) EPS. As a group, analysts forecast that Axsome Therapeutics will post -4.75 EPS for the current year.

Insider Activity at Axsome Therapeutics

In related 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 transaction, the director now owns 10,002 shares in the company, valued at $913,282.62. The trade was a 52.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sei Investments Co. increased its position in Axsome Therapeutics by 8.2% in the 1st quarter. Sei Investments Co. now owns 35,654 shares of the company’s stock valued at $2,845,000 after buying an additional 2,697 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Axsome Therapeutics by 5,550.0% during the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after acquiring an additional 777 shares in the last quarter. Vanguard Group Inc. grew its position in Axsome Therapeutics by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock worth $298,474,000 after purchasing an additional 43,512 shares in the last quarter. Covestor Ltd grew its holdings in shares of Axsome Therapeutics by 54,750.0% in the first quarter. Covestor Ltd now owns 1,097 shares of the company’s stock valued at $88,000 after acquiring an additional 1,095 shares in the last quarter. Finally, Clearbridge Investments LLC purchased a new stake in shares of Axsome Therapeutics during the first quarter valued at approximately $7,132,000. 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.