Axsome Therapeutics (NASDAQ:AXSM) Now Covered by Oppenheimer

Oppenheimer initiated coverage on shares of Axsome Therapeutics (NASDAQ:AXSM) in a report issued on Tuesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $185.00 price target on the stock.

Several other research analysts have also weighed in on AXSM. Morgan Stanley increased their price objective on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Royal Bank of Canada increased their price objective on shares of Axsome Therapeutics from $190.00 to $193.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a report on Wednesday, May 14th. Bank of America increased their price objective on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Truist Financial increased their price objective on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $173.00.

Axsome Therapeutics Price Performance

Axsome Therapeutics stock opened at $110.11 on Tuesday. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $139.13. The stock has a market capitalization of $5.42 billion, a P/E ratio of -18.38 and a beta of 0.46. The firm’s 50-day moving average is $106.26 and its two-hundred day moving average is $106.34. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04.

Insider Activity at Axsome Therapeutics

In other news, Director Mark Coleman sold 3,750 shares of Axsome Therapeutics stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $105.47, for a total transaction of $395,512.50. Following the sale, the director now owns 50,387 shares in the company, valued at $5,314,316.89. This trade represents a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Mark L. Jacobson sold 20,000 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $103.45, for a total transaction of $2,069,000.00. Following the sale, the chief operating officer now owns 5,783 shares in the company, valued at $598,251.35. This represents a 77.57% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,423 shares of company stock worth $4,950,619. Company insiders own 22.30% of the company’s stock.

Institutional Trading of Axsome Therapeutics

A number of hedge funds have recently made changes to their positions in AXSM. Assenagon Asset Management S.A. raised its stake in shares of Axsome Therapeutics by 16,852.7% during the first quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company’s stock valued at $73,176,000 after purchasing an additional 623,717 shares during the period. Boxer Capital Management LLC purchased a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $39,767,000. Lazard Asset Management LLC raised its stake in shares of Axsome Therapeutics by 525.7% during the fourth quarter. Lazard Asset Management LLC now owns 537,669 shares of the company’s stock valued at $45,492,000 after purchasing an additional 451,737 shares during the period. Nuveen LLC purchased a new stake in shares of Axsome Therapeutics during the first quarter valued at approximately $48,185,000. Finally, Norges Bank purchased a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $34,100,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.