Axsome Therapeutics, Inc. (NASDAQ:AXSM) Given Average Rating of “Moderate Buy” by Brokerages

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-three brokerages that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $261.4762.

AXSM has been the subject of several analyst reports. Morgan Stanley raised shares of Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a research note on Thursday, June 11th. Deutsche Bank Aktiengesellschaft set a $280.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, May 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $272.00 price target on shares of Axsome Therapeutics in a research note on Monday, May 4th. Wells Fargo & Company boosted their price objective on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Finally, Needham & Company LLC boosted their price objective on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th.

Axsome Therapeutics Stock Performance

AXSM opened at $241.00 on Friday. The business’s 50-day simple moving average is $239.25 and its 200 day simple moving average is $200.60. Axsome Therapeutics has a 52-week low of $96.09 and a 52-week high of $260.19. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39. The firm has a market capitalization of $12.40 billion, a PE ratio of -64.61 and a beta of 0.60.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). The company had revenue of $191.20 million during the quarter, compared to the consensus estimate of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. As a group, sell-side analysts expect that Axsome Therapeutics will post -2.45 earnings per share for the current fiscal year.

Insider Activity

In other Axsome Therapeutics news, Director Mark Coleman sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $230.30, for a total transaction of $1,381,800.00. Following the transaction, the director owned 35,140 shares of the company’s stock, valued at $8,092,742. The trade was a 14.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mark L. Jacobson sold 4,517 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $227.94, for a total value of $1,029,604.98. Following the completion of the sale, the chief operating officer owned 4,517 shares in the company, valued at $1,029,604.98. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 155,852 shares of company stock valued at $37,230,112. 20.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds have recently added to or reduced their stakes in AXSM. Handelsbanken Fonder AB increased its holdings in shares of Axsome Therapeutics by 216.4% in the second quarter. Handelsbanken Fonder AB now owns 42,400 shares of the company’s stock valued at $10,378,000 after purchasing an additional 29,000 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Axsome Therapeutics by 14.9% in the second quarter. GAMMA Investing LLC now owns 347 shares of the company’s stock valued at $85,000 after purchasing an additional 45 shares during the period. Harbor Investment Advisory LLC bought a new position in shares of Axsome Therapeutics in the second quarter valued at about $105,000. Seven Fleet Capital Management LP lifted its stake in shares of Axsome Therapeutics by 8.5% during the 1st quarter. Seven Fleet Capital Management LP now owns 14,055 shares of the company’s stock worth $2,376,000 after buying an additional 1,100 shares during the last quarter. Finally, Perceptive Advisors LLC lifted its stake in shares of Axsome Therapeutics by 0.7% during the 1st quarter. Perceptive Advisors LLC now owns 149,950 shares of the company’s stock worth $25,345,000 after buying an additional 1,050 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

About Axsome Therapeutics

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.