Axsome Therapeutics, Inc. (NASDAQ:AXSM) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have earned a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $122.08.

A number of research firms have recently commented on AXSM. HC Wainwright reissued a “buy” rating and set a $190.00 price target on shares of Axsome Therapeutics in a report on Thursday, June 6th. Guggenheim increased their target price on shares of Axsome Therapeutics from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Mizuho reduced their price target on shares of Axsome Therapeutics from $109.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Morgan Stanley upgraded shares of Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $90.00 to $115.00 in a research report on Monday, April 29th. Finally, Robert W. Baird raised their target price on shares of Axsome Therapeutics from $108.00 to $112.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Roger Jeffs sold 29,976 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total value of $2,089,327.20. Following the completion of the sale, the director now directly owns 120,756 shares in the company, valued at $8,416,693.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Axsome Therapeutics news, COO Mark L. Jacobson sold 24,662 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roger Jeffs sold 29,976 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the completion of the sale, the director now owns 120,756 shares of the company’s stock, valued at $8,416,693.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,797 shares of company stock worth $4,976,789. 22.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Trexquant Investment LP acquired a new position in shares of Axsome Therapeutics during the third quarter valued at about $1,220,000. Kennedy Capital Management LLC lifted its position in shares of Axsome Therapeutics by 24.2% during the third quarter. Kennedy Capital Management LLC now owns 12,092 shares of the company’s stock valued at $845,000 after purchasing an additional 2,354 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Axsome Therapeutics by 18.9% during the third quarter. Wellington Management Group LLP now owns 237,554 shares of the company’s stock valued at $16,603,000 after purchasing an additional 37,843 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Axsome Therapeutics by 403.8% during the third quarter. Victory Capital Management Inc. now owns 18,934 shares of the company’s stock valued at $1,323,000 after purchasing an additional 15,176 shares in the last quarter. Finally, Phocas Financial Corp. bought a new position in shares of Axsome Therapeutics during the fourth quarter valued at about $2,140,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Price Performance

AXSM stock opened at $71.80 on Tuesday. The company’s 50-day moving average price is $73.50 and its two-hundred day moving average price is $78.02. The firm has a market cap of $3.41 billion, a P/E ratio of -11.25 and a beta of 1.26. The company has a quick ratio of 3.09, a current ratio of 3.20 and a debt-to-equity ratio of 1.25. Axsome Therapeutics has a 12 month low of $55.02 and a 12 month high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, May 6th. The company reported ($1.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.11. Axsome Therapeutics had a negative net margin of 118.07% and a negative return on equity of 87.17%. The business had revenue of $75.00 million for the quarter, compared to analysts’ expectations of $69.91 million. On average, analysts anticipate that Axsome Therapeutics will post -4.7 earnings per share for the current fiscal year.

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.