Axsome Therapeutics (NASDAQ:AXSM) Stock Gets Price Target Reduction from Robert W. Baird

Axsome Therapeutics (NASDAQ:AXSM) had its price target lowered by Robert W. Baird from $246.00 to $220.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms have also recently weighed in on AXSM. Zacks Research raised Axsome Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. UBS Group dropped their target price on Axsome Therapeutics from $256.00 to $239.00 and set a “buy” rating on the stock in a research note on Tuesday. HC Wainwright reaffirmed a “buy” rating on shares of Axsome Therapeutics in a research report on Friday, September 25th. Needham & Company LLC upped their target price on Axsome Therapeutics from $267.00 to $268.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Axsome Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $267.58.

Axsome Therapeutics Price Performance

Shares of AXSM opened at $129.80 on Tuesday. Axsome Therapeutics has a twelve month low of $123.00 and a twelve month high of $260.19. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.34 and a current ratio of 1.42. The company has a 50 day moving average of $179.09 and a two-hundred day moving average of $198.13.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, November 2nd. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.38. The business had revenue of $259.69 million for the quarter, compared to analyst estimates of $249.19 million. Axsome Therapeutics had a negative net margin of 18.18% and a negative return on equity of 198.73%. The business’s revenue for the quarter was up 51.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.94) earnings per share. Equities analysts predict that Axsome Therapeutics will post -2.56 EPS for the current fiscal year.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark Jacobson sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $208.65, for a total value of $2,086,500.00. Following the completion of the transaction, the chief operating officer owned 10,000 shares of the company’s stock, valued at approximately $2,086,500. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 20.60% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Hedge funds have recently made changes to their positions in the company. Hollencrest Capital Management lifted its holdings in shares of Axsome Therapeutics by 400.0% in the 1st quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock valued at $34,000 after buying an additional 160 shares during the period. ABS Investment Management LLC acquired a new stake in Axsome Therapeutics during the second quarter worth about $171,339,000. ABS Direct Equity Fund LLC acquired a new stake in Axsome Therapeutics during the second quarter worth about $60,000. Jacobi Capital Management LLC acquired a new stake in Axsome Therapeutics during the third quarter worth about $47,000. Finally, Silvant Capital Management LLC purchased a new position in Axsome Therapeutics during the second quarter valued at approximately $66,000. 81.49% of the stock is owned by institutional investors and hedge funds.

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.