Axsome Therapeutics (NASDAQ:AXSM) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Axsome Therapeutics (NASDAQ:AXSM) to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

A number of other equities research analysts have also recently commented on AXSM. UBS Group increased their price objective on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Friday, July 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $272.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. TD Cowen lifted their price objective 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, Needham & Company LLC upped their target price on Axsome Therapeutics from $225.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $261.48.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $239.62 on Monday. The stock has a fifty day moving average price of $238.79 and a 200 day moving average price of $199.87. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39. The stock has a market cap of $12.33 billion, a PE ratio of -64.24 and a beta of 0.60. Axsome Therapeutics has a 1 year low of $96.09 and a 1 year high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last posted 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). The firm had revenue of $191.20 million during the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. Axsome Therapeutics’s revenue for the quarter was up 57.4% compared to the same quarter last year. Sell-side analysts forecast that Axsome Therapeutics will post -2.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mark Coleman sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $230.30, for a total value of $1,381,800.00. Following the completion of the transaction, the director owned 35,140 shares of the company’s stock, valued at $8,092,742. The trade was a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Nick Pizzie sold 33,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the sale, the chief financial officer owned 42,867 shares in the company, valued at approximately $10,291,938.03. This trade represents a 43.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 155,852 shares of company stock valued at $37,230,112. 20.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in Axsome Therapeutics by 84.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock worth $162,082,000 after buying an additional 609,516 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Axsome Therapeutics by 1,230.2% during the 1st quarter. First Trust Advisors LP now owns 577,479 shares of the company’s stock valued at $97,606,000 after acquiring an additional 534,066 shares during the last quarter. Norges Bank purchased a new position in shares of Axsome Therapeutics during the 4th quarter worth about $90,490,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Axsome Therapeutics by 45.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock worth $275,763,000 after acquiring an additional 472,422 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Axsome Therapeutics by 73.3% during the 3rd quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock worth $120,303,000 after acquiring an additional 419,008 shares during the period. Institutional investors and hedge funds 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.