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

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has been given an average recommendation of “Moderate Buy” by the twenty research firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $217.5882.

Several research analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Wednesday, January 21st. TD Cowen restated a “buy” rating on shares of Axsome Therapeutics in a research note on Monday, February 23rd. Wolfe Research assumed coverage on shares of Axsome Therapeutics in a research note on Monday, February 23rd. They issued an “outperform” rating and a $230.00 target price for the company. Guggenheim upped their target price on shares of Axsome Therapeutics from $220.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, March 25th. Finally, Needham & Company LLC restated a “buy” rating and issued a $225.00 target price on shares of Axsome Therapeutics in a research note on Monday, February 23rd.

Axsome Therapeutics Price Performance

AXSM opened at $178.90 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.55 and a debt-to-equity ratio of 1.38. Axsome Therapeutics has a 52-week low of $92.45 and a 52-week high of $191.50. The company has a 50 day moving average of $170.37 and a two-hundred day moving average of $155.16. The company has a market cap of $9.15 billion, a P/E ratio of -48.48 and a beta of 0.48.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, February 23rd. The company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.14. The company had revenue of $196.00 million during the quarter, compared to the consensus estimate of $191.33 million. Axsome Therapeutics had a negative net margin of 28.69% and a negative return on equity of 232.61%. The firm’s quarterly revenue was up 65.0% on a year-over-year basis. On average, analysts expect that Axsome Therapeutics will post -2.79 earnings per share for the current year.

Insider Activity

In other Axsome Therapeutics news, CFO Nick Pizzie sold 12,000 shares of the stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $187.92, for a total transaction of $2,255,040.00. Following the transaction, the chief financial officer directly owned 42,588 shares in the company, valued at $8,003,136.96. This represents a 21.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Mark L. Jacobson sold 35,378 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $161.88, for a total transaction of $5,726,990.64. The SEC filing for this sale provides additional information. Insiders sold a total of 112,288 shares of company stock worth $19,408,377 over the last ninety days. Insiders own 22.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Axsome Therapeutics by 6.0% during the third quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock worth $507,739,000 after purchasing an additional 235,626 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Axsome Therapeutics by 45.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock worth $275,763,000 after purchasing an additional 472,422 shares during the period. Wellington Management Group LLP raised its holdings in shares of Axsome Therapeutics by 84.1% during the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock worth $162,082,000 after purchasing an additional 609,516 shares during the period. Invesco Ltd. raised its holdings in shares of Axsome Therapeutics by 28.6% during the fourth quarter. Invesco Ltd. now owns 1,273,494 shares of the company’s stock worth $232,591,000 after purchasing an additional 282,937 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Axsome Therapeutics by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company’s stock worth $184,544,000 after purchasing an additional 12,549 shares during the period. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Company Profile

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.