Axsome Therapeutics (NASDAQ:AXSM) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research report released on Tuesday, Benzinga reports. They currently have a $190.00 target price on the stock.

Other analysts have also issued research reports about the stock. Morgan Stanley upgraded shares of Axsome Therapeutics from an equal weight rating to an overweight rating and lifted their price target for the stock from $90.00 to $115.00 in a research note on Monday, April 29th. Royal Bank of Canada upped their target price on shares of Axsome Therapeutics from $123.00 to $128.00 and gave the company an outperform rating in a research note on Tuesday, March 26th. Citigroup lifted their price target on Axsome Therapeutics from $125.00 to $127.00 and gave the stock a buy rating in a research note on Tuesday, March 26th. Robert W. Baird upped their price objective on Axsome Therapeutics from $108.00 to $112.00 and gave the company an outperform rating in a research note on Tuesday. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $107.00 target price on shares of Axsome Therapeutics in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $122.17.

Axsome Therapeutics Stock Up 1.3 %

Shares of Axsome Therapeutics stock opened at $76.94 on Tuesday. Axsome Therapeutics has a 1-year low of $55.02 and a 1-year high of $98.40. The company has a market capitalization of $3.65 billion, a PE ratio of -14.80 and a beta of 1.13. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.63 and a quick ratio of 3.52. The business has a 50-day moving average of $74.14 and a 200-day moving average of $75.73.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.48. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. The firm had revenue of $71.53 million during the quarter, compared to analyst estimates of $70.38 million. As a group, equities analysts forecast that Axsome Therapeutics will post -3.75 EPS for the current fiscal year.

Insider Activity

In related news, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $69.70, for a total value of $2,089,327.20. Following the sale, the director now directly owns 120,756 shares in the company, valued at approximately $8,416,693.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Axsome Therapeutics news, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the sale, the director now owns 120,756 shares of the company’s stock, valued at approximately $8,416,693.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mark L. Jacobson sold 24,662 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $77.24, for a total value of $1,904,892.88. The disclosure for this sale can be found here. Corporate insiders own 24.50% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Washington Trust Advisors Inc. bought a new position in shares of Axsome Therapeutics in the fourth quarter valued at approximately $26,000. Fifth Third Bancorp lifted its position in Axsome Therapeutics by 100.0% in the third quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock worth $28,000 after purchasing an additional 200 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Axsome Therapeutics by 110.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,204 shares of the company’s stock valued at $84,000 after purchasing an additional 633 shares in the last quarter. Janiczek Wealth Management LLC acquired a new position in shares of Axsome Therapeutics during the 1st quarter valued at $97,000. Finally, SG Americas Securities LLC bought a new stake in shares of Axsome Therapeutics in the 4th quarter worth $170,000. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company's commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.