Axsome Therapeutics (NASDAQ:AXSM) Reaches New 12-Month High – Here’s Why

Axsome Therapeutics, Inc. (NASDAQ:AXSM) reached a new 52-week high during trading on Friday . The stock traded as high as $154.49 and last traded at $151.96, with a volume of 183511 shares traded. The stock had previously closed at $147.00.

Wall Street Analyst Weigh In

AXSM has been the topic of several research analyst reports. Guggenheim upped their price objective on Axsome Therapeutics from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Wells Fargo & Company cut their price objective on shares of Axsome Therapeutics from $163.00 to $157.00 and set an “overweight” rating on the stock in a report on Tuesday, November 4th. Needham & Company LLC reissued a “buy” rating and issued a $154.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, November 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Wednesday, October 8th. Finally, Mizuho lifted their target price on Axsome Therapeutics from $200.00 to $202.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.88.

Axsome Therapeutics Stock Performance

The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $7.69 billion, a PE ratio of -32.66 and a beta of 0.48. The firm has a 50 day moving average price of $140.58 and a 200-day moving average price of $121.84.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Monday, November 3rd. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). Axsome Therapeutics had a negative net margin of 40.90% and a negative return on equity of 277.31%. The firm had revenue of $170.99 million during the quarter, compared to analysts’ expectations of $162.96 million. The company’s quarterly revenue was up 63.2% compared to the same quarter last year. Research analysts expect that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In other news, COO Mark L. Jacobson sold 10,000 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $115.96, for a total value of $1,159,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Herriot Tabuteau sold 10,558 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $148.18, for a total transaction of $1,564,484.44. Following the transaction, the chief executive officer owned 7,229 shares of the company’s stock, valued at $1,071,193.22. This represents a 59.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 299,296 shares of company stock worth $40,041,911 over the last ninety days. Insiders own 22.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Swiss National Bank increased its stake in Axsome Therapeutics by 6.9% during the 2nd quarter. Swiss National Bank now owns 65,200 shares of the company’s stock worth $6,806,000 after buying an additional 4,200 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Axsome Therapeutics by 55.4% in the second quarter. Bank of New York Mellon Corp now owns 203,632 shares of the company’s stock valued at $21,257,000 after acquiring an additional 72,609 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Axsome Therapeutics in the first quarter worth approximately $10,805,000. Los Angeles Capital Management LLC increased its position in shares of Axsome Therapeutics by 154.5% during the second quarter. Los Angeles Capital Management LLC now owns 4,424 shares of the company’s stock worth $462,000 after purchasing an additional 2,686 shares in the last quarter. Finally, Affinity Asset Advisors LLC raised its stake in Axsome Therapeutics by 33.3% in the 1st quarter. Affinity Asset Advisors LLC now owns 100,000 shares of the company’s stock valued at $11,663,000 after purchasing an additional 25,000 shares during the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

About Axsome Therapeutics

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.