Axsome Therapeutics, Inc. (NASDAQ:AXSM) Stock Has Consensus Price Target of $274.68

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has earned an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seventeen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $274.68.

AXSM has been the topic of a number of research analyst reports. Guggenheim increased their price target on Axsome Therapeutics from $260.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Zacks Research raised shares of Axsome Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Axsome Therapeutics in a report on Thursday, October 15th. Piper Sandler dropped their price objective on shares of Axsome Therapeutics from $258.00 to $238.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, UBS Group reissued a “buy” rating on shares of Axsome Therapeutics in a research report on Monday, August 24th.

Insider Transactions at Axsome Therapeutics

In related news, CEO Herriot Tabuteau sold 45,004 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $212.01, for a total value of $9,541,298.04. Following the transaction, the chief executive officer owned 7,229 shares in the company, valued at approximately $1,532,620.29. This represents a 86.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mark Jacobson sold 10,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief operating officer directly owned 10,000 shares in the company, valued at approximately $2,086,500. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 59,664 shares of company stock worth $12,624,805. 20.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Axsome Therapeutics in the 3rd quarter valued at about $494,000. Profund Advisors LLC increased its holdings in shares of Axsome Therapeutics by 608.6% during the third quarter. Profund Advisors LLC now owns 7,291 shares of the company’s stock worth $1,344,000 after purchasing an additional 6,262 shares during the period. ProShare Advisors LLC increased its holdings in shares of Axsome Therapeutics by 7.8% during the third quarter. ProShare Advisors LLC now owns 1,816 shares of the company’s stock worth $335,000 after purchasing an additional 131 shares during the period. Vise Technologies Inc. raised its holdings in Axsome Therapeutics by 35.4% in the 3rd quarter. Vise Technologies Inc. now owns 3,349 shares of the company’s stock valued at $618,000 after acquiring an additional 876 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in Axsome Therapeutics by 16.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,557 shares of the company’s stock valued at $1,779,000 after purchasing an additional 1,367 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Trading Down 0.0%

Axsome Therapeutics stock opened at $143.45 on Tuesday. The stock has a 50-day simple moving average of $186.03 and a 200 day simple moving average of $199.10. The stock has a market capitalization of $7.51 billion, a P/E ratio of -38.25 and a beta of 0.86. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43. Axsome Therapeutics has a 52 week low of $123.50 and a 52 week high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last released 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). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The business had revenue of $218.38 million during the quarter, compared to the consensus estimate of $221.11 million. Analysts expect that Axsome Therapeutics will post -3.03 earnings per share for the current year.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. Founded in 2012 and headquartered in New York, the company develops medicines for conditions with significant unmet medical needs, including depression, narcolepsy, excessive daytime sleepiness, and other neurological disorders.

Axsome’s commercial products include Auvelity (dextromethorphan and bupropion), an oral treatment approved in the United States for major depressive disorder in adults, and Sunosi (solriamfetol), a therapy for excessive daytime sleepiness associated with narcolepsy or obstructive sleep apnea.