Deutsche Bank Aktiengesellschaft Cuts Axsome Therapeutics (NASDAQ:AXSM) Price Target to $267.00

Axsome Therapeutics (NASDAQ:AXSM) had its target price decreased by Deutsche Bank Aktiengesellschaft from $280.00 to $267.00 in a report published on Tuesday, MarketBeat reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

A number of other research firms also recently commented on AXSM. Zacks Research upgraded Axsome Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Morgan Stanley dropped their target price on shares of Axsome Therapeutics from $251.00 to $247.00 and set an “equal weight” rating for the company in a research report on Friday, September 25th. Mizuho raised their price target on shares of Axsome Therapeutics from $306.00 to $316.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Royal Bank Of Canada reduced their price target on shares of Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. Finally, TD Cowen increased their price objective on shares of Axsome Therapeutics from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $275.84.

Axsome Therapeutics Price Performance

AXSM opened at $182.07 on Tuesday. Axsome Therapeutics has a 1 year low of $117.30 and a 1 year high of $260.19. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43. The company’s 50 day simple moving average is $209.96 and its 200 day simple moving average is $212.30. The stock has a market capitalization of $9.54 billion, a PE ratio of -48.55 and a beta of 0.86.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.10). The company had revenue of $218.38 million for the quarter, compared to analysts’ expectations of $221.11 million. Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. As a group, sell-side analysts expect that Axsome Therapeutics will post -2.92 EPS for the current year.

Insider Buying and Selling

In other news, COO Mark L. Jacobson sold 10,000 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $208.65, for a total transaction of $2,086,500.00. Following the transaction, the chief operating officer directly owned 10,000 shares of the company’s stock, valued at approximately $2,086,500. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Herriot Tabuteau sold 45,004 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $212.01, for a total transaction of $9,541,298.04. Following the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,532,620.29. The trade was a 86.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 59,664 shares of company stock valued at $12,624,805. 20.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ABS Direct Equity Fund LLC purchased a new stake in shares of Axsome Therapeutics during the second quarter worth about $60,000. Sequoia Financial Advisors LLC purchased a new position in Axsome Therapeutics in the second quarter valued at about $217,000. Integrated Wealth Concepts LLC acquired a new stake in Axsome Therapeutics during the 2nd quarter valued at approximately $251,000. NewEdge Advisors LLC purchased a new stake in Axsome Therapeutics during the 2nd quarter worth approximately $277,000. Finally, IFP Advisors Inc increased its holdings in Axsome Therapeutics by 2.1% during the 2nd quarter. IFP Advisors Inc now owns 62,273 shares of the company’s stock worth $15,243,000 after purchasing an additional 1,279 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. The company uses differentiated product candidates and targeted mechanisms to address conditions with significant unmet medical needs, including depression, sleep disorders, migraine, and other neurological or psychiatric diseases.

Axsome’s lead commercial product is Auvelity (dextromethorphan hydrobromide and bupropion hydrochloride), an oral medicine approved in the United States for the treatment of major depressive disorder in adults.