Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have earned an average rating of “Moderate Buy” from the eighteen brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, sixteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $179.8750.

Several research firms have recently weighed in on AXSM. Wells Fargo & Company reduced their target price on shares of Axsome Therapeutics from $163.00 to $157.00 and set an “overweight” rating for the company in a research note on Tuesday, November 4th. Mizuho raised their price objective on shares of Axsome Therapeutics from $200.00 to $202.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Morgan Stanley lifted their price objective on shares of Axsome Therapeutics from $194.00 to $196.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. B. Riley started coverage on shares of Axsome Therapeutics in a research note on Wednesday, October 1st. They issued a “buy” rating and a $179.00 price objective for the company. Finally, HC Wainwright increased their target price on Axsome Therapeutics from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $149.22 on Friday. Axsome Therapeutics has a 1 year low of $75.56 and a 1 year high of $152.94. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.50. The stock’s fifty day moving average price is $134.97 and its two-hundred day moving average price is $118.80. The firm has a market cap of $7.52 billion, a PE ratio of -31.95 and a beta of 0.48.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.12). Axsome Therapeutics had a negative return on equity of 277.31% and a negative net margin of 40.90%.The firm had revenue of $170.99 million during the quarter, compared to analysts’ expectations of $162.96 million. Axsome Therapeutics’s quarterly revenue was up 63.2% on a year-over-year basis. On average, equities research analysts forecast that Axsome Therapeutics will post -2.79 EPS for the current year.

Insiders Place Their Bets

In related news, COO Mark L. Jacobson sold 10,000 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $115.96, for a total transaction of $1,159,600.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Herriot Tabuteau sold 10,558 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $148.18, for a total value of $1,564,484.44. Following the completion of the transaction, the chief executive officer owned 7,229 shares of the company’s stock, valued at approximately $1,071,193.22. This represents a 59.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 407,959 shares of company stock worth $52,645,040. 22.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds have recently bought and sold shares of the company. Allworth Financial LP increased its holdings in Axsome Therapeutics by 6.6% during the 3rd quarter. Allworth Financial LP now owns 1,442 shares of the company’s stock worth $175,000 after acquiring an additional 89 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of Axsome Therapeutics by 5.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 14,375 shares of the company’s stock valued at $1,746,000 after purchasing an additional 686 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Axsome Therapeutics in the third quarter worth $524,000. Wilmington Savings Fund Society FSB raised its position in shares of Axsome Therapeutics by 4,375.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 716 shares of the company’s stock worth $87,000 after buying an additional 700 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of Axsome Therapeutics in the third quarter worth $40,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

About Axsome Therapeutics

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.