Analysts Set Axsome Therapeutics Inc (NASDAQ:AXSM) Price Target at $30.83

Axsome Therapeutics Inc (NASDAQ:AXSM) has been assigned an average recommendation of “Buy” from the ten ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $30.83.

Several brokerages recently issued reports on AXSM. Cantor Fitzgerald reiterated an “overweight” rating and issued a $35.00 target price (up from $25.00) on shares of Axsome Therapeutics in a research report on Tuesday, May 28th. BidaskClub lowered shares of Axsome Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. ValuEngine lowered shares of Axsome Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research lowered shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, SunTrust Banks began coverage on shares of Axsome Therapeutics in a research report on Tuesday, May 28th. They issued a “buy” rating for the company.

In other Axsome Therapeutics news, Director Mark E. Saad purchased 3,500 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was acquired at an average cost of $22.33 per share, for a total transaction of $78,155.00. Following the completion of the transaction, the director now directly owns 7,002 shares in the company, valued at approximately $156,354.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Nick Pizzie purchased 1,920 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were acquired at an average price of $20.80 per share, with a total value of $39,936.00. Following the completion of the transaction, the chief financial officer now owns 1,920 shares of the company’s stock, valued at $39,936. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 5,820 shares of company stock valued at $127,391. Company insiders own 27.50% of the company’s stock.



A number of hedge funds and other institutional investors have recently bought and sold shares of AXSM. Ladenburg Thalmann Financial Services Inc. raised its position in Axsome Therapeutics by 41.2% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,800 shares of the company’s stock worth $124,000 after acquiring an additional 1,400 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in Axsome Therapeutics in the second quarter worth approximately $281,000. Schroder Investment Management Group bought a new position in Axsome Therapeutics in the second quarter worth approximately $76,000. Nuveen Asset Management LLC bought a new position in Axsome Therapeutics in the second quarter worth approximately $2,517,000. Finally, Price T Rowe Associates Inc. MD bought a new position in Axsome Therapeutics in the second quarter worth approximately $14,906,000. Institutional investors and hedge funds own 45.10% of the company’s stock.

Shares of AXSM traded up $1.78 during mid-day trading on Tuesday, reaching $24.63. 915,600 shares of the stock traded hands, compared to its average volume of 827,627. The firm has a fifty day moving average price of $25.96 and a 200 day moving average price of $18.53. The company has a market cap of $786.46 million, a price-to-earnings ratio of -21.42 and a beta of 2.64. The company has a current ratio of 4.18, a quick ratio of 5.68 and a debt-to-equity ratio of 0.72. Axsome Therapeutics has a 1 year low of $1.94 and a 1 year high of $28.70.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.10). On average, sell-side analysts anticipate that Axsome Therapeutics will post -1.49 EPS for the current year.

About Axsome Therapeutics

Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in developing novel therapies for central nervous system (CNS) disorders in the United States. Its product pipeline includes AXS-05, which is in the Phase III clinical trial for the treatment resistant depression; Phase II/III clinical trials in agitation associated with Alzheimer's disease; and Phase II clinical trial for the treatment of smoking cessation, as well as for major depressive disorder.

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Analyst Recommendations for Axsome Therapeutics (NASDAQ:AXSM)

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