Axsome Therapeutics, Inc. (NASDAQ:AXSM) Given Average Rating of “Moderate Buy” by Brokerages

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-one analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $251.2632.

Several research firms have recently issued reports on AXSM. Truist Financial upgraded Axsome Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Royal Bank Of Canada lifted their price target on Axsome Therapeutics from $242.00 to $302.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Oppenheimer set a $280.00 price target on Axsome Therapeutics in a research note on Monday, May 4th. Morgan Stanley lifted their price target on Axsome Therapeutics from $217.00 to $242.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Finally, Robert W. Baird lifted their price target on Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th.

Insider Activity at Axsome Therapeutics

In related news, Director Mark Coleman sold 25,000 shares of Axsome Therapeutics stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $161.11, for a total value of $4,027,750.00. Following the sale, the director owned 47,140 shares of the company’s stock, valued at approximately $7,594,725.40. The trade was a 34.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ari Maizel sold 7,500 shares of Axsome Therapeutics stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $182.42, for a total value of $1,368,150.00. Following the completion of the sale, the insider directly owned 7,500 shares in the company, valued at approximately $1,368,150. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 72,628 shares of company stock valued at $12,205,662. 20.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Axsome Therapeutics by 6.0% during the third quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock worth $507,739,000 after purchasing an additional 235,626 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in 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 period. Wellington Management Group LLP grew its holdings in Axsome Therapeutics by 84.1% during the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock worth $162,082,000 after purchasing an additional 609,516 shares during the period. Invesco Ltd. grew its holdings in Axsome Therapeutics by 28.6% during the fourth quarter. Invesco Ltd. now owns 1,273,494 shares of the company’s stock worth $232,591,000 after purchasing an additional 282,937 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Axsome Therapeutics by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company’s stock worth $184,544,000 after purchasing an additional 12,549 shares during the period. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Trading Down 0.4%

AXSM stock opened at $216.47 on Tuesday. The business has a fifty day moving average price of $175.82 and a 200 day moving average price of $165.88. Axsome Therapeutics has a fifty-two week low of $96.09 and a fifty-two week high of $234.29. The stock has a market capitalization of $11.14 billion, a price-to-earnings ratio of -58.03 and a beta of 0.59. 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 (NASDAQ:AXSM) last released its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). The business had revenue of $191.20 million for the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The firm’s revenue for the quarter was up 57.4% on a year-over-year basis. Analysts expect that Axsome Therapeutics will post -2.14 EPS for the current fiscal year.

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.