HC Wainwright Reiterates Buy Rating for Axsome Therapeutics (NASDAQ:AXSM)

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $290.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 22.34% from the company’s current price.

AXSM has been the subject of several other reports. Morgan Stanley upgraded shares of Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a research note on Thursday, June 11th. Guggenheim upped their target price on Axsome Therapeutics from $245.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Oppenheimer set a $280.00 target price on Axsome Therapeutics in a research note on Monday, May 4th. TD Cowen lifted their price target on Axsome Therapeutics from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Finally, UBS Group boosted their price target on Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $259.05.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock opened at $237.04 on Wednesday. The company has a 50 day moving average price of $238.09 and a 200 day moving average price of $198.02. The firm has a market capitalization of $12.20 billion, a P/E ratio of -63.55 and a beta of 0.60. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. Axsome Therapeutics has a 52 week low of $96.09 and a 52 week high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.41). Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The company had revenue of $191.20 million for the quarter, compared to analysts’ expectations of $191.10 million. Axsome Therapeutics’s revenue was up 57.4% on a year-over-year basis. Sell-side analysts expect that Axsome Therapeutics will post -2.45 EPS for the current year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 4,517 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $227.94, for a total value of $1,029,604.98. Following the sale, the chief operating officer directly owned 4,517 shares of the company’s stock, valued at approximately $1,029,604.98. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Coleman sold 6,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $230.30, for a total value of $1,381,800.00. Following the sale, the director directly owned 35,140 shares in the company, valued at $8,092,742. This represents a 14.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 163,352 shares of company stock valued at $38,598,262 over the last ninety days. Corporate insiders own 20.60% of the company’s stock.

Institutional Trading of Axsome Therapeutics

A number of hedge funds have recently modified their holdings of AXSM. Franklin Street Advisors Inc. NC acquired a new stake in shares of Axsome Therapeutics during the 4th quarter worth approximately $1,826,000. Pictet Asset Management Holding SA boosted its holdings in Axsome Therapeutics by 20.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 436,063 shares of the company’s stock worth $79,643,000 after buying an additional 73,925 shares in the last quarter. Norges Bank acquired a new stake in Axsome Therapeutics during the fourth quarter valued at $90,490,000. Axiom Investors LLC DE grew its position in Axsome Therapeutics by 28.7% during the fourth quarter. Axiom Investors LLC DE now owns 63,390 shares of the company’s stock valued at $11,578,000 after buying an additional 14,137 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Axsome Therapeutics by 42.6% in the third quarter. JPMorgan Chase & Co. now owns 250,513 shares of the company’s stock valued at $30,425,000 after buying an additional 74,885 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.