Axsome Therapeutics (NASDAQ:AXSM) Upgraded to “Strong-Buy” at BMO Capital Markets

BMO Capital Markets upgraded shares of Axsome Therapeutics (NASDAQ:AXSM) to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price target on shares of Axsome Therapeutics in a research note on Thursday, June 11th. HC Wainwright reaffirmed a “buy” rating and issued a $290.00 price objective on shares of Axsome Therapeutics in a research note on Wednesday, July 15th. Oppenheimer set a $280.00 target price on Axsome Therapeutics in a research report on Monday, May 4th. Robert W. Baird lifted their target price on Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Finally, Royal Bank Of Canada boosted their price target on Axsome Therapeutics from $302.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $261.48.

Axsome Therapeutics Stock Up 6.9%

NASDAQ AXSM opened at $236.95 on Monday. The stock’s 50-day moving average price is $238.71 and its 200-day moving average price is $199.47. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. Axsome Therapeutics has a 52 week low of $96.09 and a 52 week high of $260.19. The company has a market capitalization of $12.19 billion, a P/E ratio of -63.53 and a beta of 0.60.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). The firm had revenue of $191.20 million for the quarter, compared to the consensus estimate of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The business’s revenue for the quarter was up 57.4% on a year-over-year basis. On average, equities research analysts predict that Axsome Therapeutics will post -2.45 earnings per share for the current year.

Insider Activity

In other Axsome Therapeutics news, CFO Nick Pizzie sold 33,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the sale, the chief financial officer directly owned 42,867 shares of the company’s stock, valued at $10,291,938.03. The trade was a 43.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark Coleman sold 643 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $249.00, for a total value of $160,107.00. Following the completion of the sale, the director directly owned 30,389 shares of the company’s stock, valued at $7,566,861. The trade was a 2.07% 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 three months, insiders sold 155,852 shares of company stock worth $37,230,112. 20.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its holdings in Axsome Therapeutics by 84.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after acquiring an additional 609,516 shares during the period. First Trust Advisors LP increased its stake in Axsome Therapeutics by 1,230.2% in the first quarter. First Trust Advisors LP now owns 577,479 shares of the company’s stock worth $97,606,000 after purchasing an additional 534,066 shares during the period. Norges Bank purchased a new stake in Axsome Therapeutics in the fourth quarter worth $90,490,000. Price T Rowe Associates Inc. MD lifted its position in shares of Axsome Therapeutics by 45.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock worth $275,763,000 after purchasing an additional 472,422 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Axsome Therapeutics by 73.3% during the third quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock worth $120,303,000 after purchasing an additional 419,008 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

About Axsome Therapeutics

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.