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

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have earned a consensus rating of “Moderate Buy” from the thirteen analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $121.92.

Several brokerages recently issued reports on AXSM. Cantor Fitzgerald reiterated an “overweight” rating and issued a $107.00 target price on shares of Axsome Therapeutics in a research note on Wednesday, April 10th. Truist Financial reissued a “buy” rating and set a $150.00 target price on shares of Axsome Therapeutics in a report on Tuesday, March 26th. HC Wainwright reaffirmed a “buy” rating and set a $190.00 price target on shares of Axsome Therapeutics in a report on Tuesday. Robert W. Baird upped their price objective on shares of Axsome Therapeutics from $108.00 to $112.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Piper Sandler lifted their target price on shares of Axsome Therapeutics from $90.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th.

Axsome Therapeutics Stock Down 2.6 %

AXSM stock opened at $73.68 on Friday. The company has a market cap of $3.50 billion, a price-to-earnings ratio of -11.55 and a beta of 1.13. Axsome Therapeutics has a twelve month low of $55.02 and a twelve month high of $98.40. The business has a 50 day moving average price of $73.84 and a two-hundred day moving average price of $75.72. The company has a quick ratio of 3.52, a current ratio of 3.63 and a debt-to-equity ratio of 0.93.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, February 20th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($1.21) by $0.48. The business had revenue of $71.53 million during the quarter, compared to analysts’ expectations of $70.38 million. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. Analysts anticipate that Axsome Therapeutics will post -3.75 EPS for the current fiscal year.

Insider Buying and Selling

In other Axsome Therapeutics news, Director Roger Jeffs sold 29,976 shares of the company’s 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 completion of the sale, the director now directly owns 120,756 shares in the company, valued at $8,416,693.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Roger Jeffs sold 29,976 shares of the stock in a transaction that occurred on 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 completion of the transaction, 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 legal filing with the SEC, which is available through the SEC website. Also, COO Mark L. Jacobson sold 24,662 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $77.24, for a total transaction of $1,904,892.88. The disclosure for this sale can be found here. 24.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Several large investors have recently bought and sold shares of the company. Perceptive Advisors LLC increased its holdings in Axsome Therapeutics by 115.5% in the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock valued at $82,616,000 after purchasing an additional 556,370 shares during the period. Eventide Asset Management LLC acquired a new stake in shares of Axsome Therapeutics in the third quarter valued at about $24,232,000. Point72 Asset Management L.P. raised its position in shares of Axsome Therapeutics by 57.4% during the fourth quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock worth $66,633,000 after acquiring an additional 305,264 shares during the last quarter. First Turn Management LLC acquired a new position in shares of Axsome Therapeutics in the fourth quarter worth approximately $23,513,000. Finally, RTW Investments LP boosted its holdings in Axsome Therapeutics by 4.8% in the third quarter. RTW Investments LP now owns 4,489,596 shares of the company’s stock valued at $313,778,000 after acquiring an additional 205,319 shares during the last quarter. 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.