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

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has earned a consensus recommendation of “Moderate Buy” from the eighteen analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, sixteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $179.8750.

Several equities research analysts recently issued reports on AXSM shares. B. Riley began coverage on Axsome Therapeutics in a research note on Wednesday, October 1st. They set a “buy” rating and a $179.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Wednesday, October 8th. Guggenheim lifted their price target on Axsome Therapeutics from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Needham & Company LLC reissued a “buy” rating and set a $154.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, November 4th. Finally, HC Wainwright upped their price objective on shares of 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 Price Performance

Shares of NASDAQ:AXSM opened at $148.79 on Wednesday. The company has a 50 day moving average of $144.13 and a 200 day moving average of $124.10. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 1.66. The stock has a market cap of $7.50 billion, a P/E ratio of -31.86 and a beta of 0.47. Axsome Therapeutics has a 12 month low of $79.19 and a 12 month high of $158.56.

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

Insider Activity at Axsome Therapeutics

In other news, CEO Herriot Tabuteau sold 91,705 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $132.34, for a total transaction of $12,136,239.70. Following the sale, the chief executive officer owned 7,229 shares in the company, valued at approximately $956,685.86. This trade represents a 92.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 289,296 shares of company stock valued at $38,882,311. 22.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its position in Axsome Therapeutics by 20,300.0% during the 3rd quarter. Versant Capital Management Inc now owns 204 shares of the company’s stock worth $25,000 after acquiring an additional 203 shares during the last quarter. First Horizon Corp bought a new position in shares of Axsome Therapeutics in the third quarter worth approximately $34,000. Optiver Holding B.V. increased its stake in shares of Axsome Therapeutics by 82.3% in the third quarter. Optiver Holding B.V. now owns 288 shares of the company’s stock worth $35,000 after buying an additional 130 shares during the period. AlphaQuest LLC bought a new stake in Axsome Therapeutics during the 1st quarter valued at $38,000. Finally, Essex Investment Management Co. LLC bought a new stake in Axsome Therapeutics during the 3rd quarter valued at $38,000. Institutional investors own 81.49% of the company’s stock.

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.