Axsome Therapeutics’ (AXSM) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a report issued on Wednesday,Benzinga reports. They currently have a $290.00 price target on the stock.

Several other research firms have also recently weighed in on AXSM. Deutsche Bank Aktiengesellschaft set a $280.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, May 5th. Guggenheim raised their price objective on Axsome Therapeutics from $245.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Wells Fargo & Company lifted their target price on Axsome Therapeutics from $225.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Monday, April 20th. Finally, Mizuho increased their price target on Axsome Therapeutics from $228.00 to $310.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $259.05.

Axsome Therapeutics Trading Down 3.0%

AXSM stock opened at $230.00 on Wednesday. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32. Axsome Therapeutics has a 1-year low of $96.09 and a 1-year high of $260.19. The business has a 50 day simple moving average of $238.35 and a two-hundred day simple moving average of $198.24. The company has a market capitalization of $11.84 billion, a price-to-earnings ratio of -61.66 and a beta of 0.60.

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

Insider Transactions at Axsome Therapeutics

In related news, Director Mark Coleman sold 643 shares of Axsome Therapeutics stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $249.00, for a total transaction of $160,107.00. Following the completion of the transaction, the director directly owned 30,389 shares of the company’s stock, valued at approximately $7,566,861. The trade was a 2.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Roger Jeffs sold 286 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total transaction of $70,407.48. Following the transaction, the director owned 58,653 shares in the company, valued at $14,439,195.54. The trade was a 0.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 163,352 shares of company stock worth $38,598,262. 20.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in shares of Axsome Therapeutics by 14.9% in the 2nd 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. Birchview Capital LP grew its position in Axsome Therapeutics by 1.0% during the fourth quarter. Birchview Capital LP now owns 6,061 shares of the company’s stock valued at $1,107,000 after buying an additional 61 shares during the period. PNC Financial Services Group Inc. grew its position in Axsome Therapeutics by 3.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company’s stock valued at $351,000 after buying an additional 65 shares during the period. Xponance LLC increased its holdings in Axsome Therapeutics by 2.4% in the fourth quarter. Xponance LLC now owns 3,265 shares of the company’s stock valued at $596,000 after buying an additional 76 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in Axsome Therapeutics by 7.2% in the first quarter. Assetmark Inc. now owns 1,182 shares of the company’s stock valued at $200,000 after buying an additional 79 shares in the last quarter. 81.49% of the stock is currently owned by hedge funds and other 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.