Axsome Therapeutics (NASDAQ:AXSM) Upgraded to Hold at Zacks Research

Axsome Therapeutics (NASDAQ:AXSM) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other analysts have also recently issued reports on the stock. Needham & Company LLC increased their price objective on shares of Axsome Therapeutics from $267.00 to $268.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Robert W. Baird upped their target price on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Morgan Stanley increased their price target on Axsome Therapeutics from $242.00 to $251.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. TD Cowen raised their price target on Axsome Therapeutics from $275.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Finally, BMO Capital Markets initiated coverage on Axsome Therapeutics in a research report on Monday, July 20th. They issued an “outperform” rating and a $310.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $267.60.

Axsome Therapeutics Trading Up 1.2%

Shares of NASDAQ:AXSM opened at $218.20 on Tuesday. The stock has a 50 day moving average of $233.99 and a 200 day moving average of $205.84. The company has a market cap of $11.43 billion, a PE ratio of -58.19 and a beta of 0.65. Axsome Therapeutics has a 12-month low of $111.54 and a 12-month high of $260.19. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 1.52.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%.The firm had revenue of $218.38 million for the quarter, compared to the consensus estimate of $221.11 million. As a group, equities research analysts expect that Axsome Therapeutics will post -2.78 EPS for the current year.

Insider Transactions at Axsome Therapeutics

In other news, Director Mark Coleman sold 6,000 shares of Axsome Therapeutics stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $230.30, for a total value of $1,381,800.00. Following the sale, the director directly owned 35,140 shares of the company’s stock, valued at approximately $8,092,742. The trade was a 14.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan Mahony sold 300 shares of Axsome Therapeutics stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total value of $71,163.00. Following the completion of the sale, the director directly owned 1,129 shares in the company, valued at $267,810.09. This trade represents a 20.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 200,766 shares of company stock worth $46,685,646. 20.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Axsome Therapeutics by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,923 shares of the company’s stock worth $2,557,000 after purchasing an additional 1,002 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Axsome Therapeutics by 2,407.9% during the first quarter. Jones Financial Companies Lllp now owns 7,624 shares of the company’s stock valued at $889,000 after purchasing an additional 7,320 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Axsome Therapeutics by 38.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 301,718 shares of the company’s stock worth $35,189,000 after buying an additional 84,151 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of Axsome Therapeutics in the 1st quarter worth $307,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Axsome Therapeutics by 29.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,892 shares of the company’s stock worth $8,735,000 after buying an additional 17,250 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Company Profile

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.