Axsome Therapeutics (NASDAQ:AXSM) PT Lowered to $180.00

Axsome Therapeutics (NASDAQ:AXSM) had its price target dropped by stock analysts at HC Wainwright from $190.00 to $180.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 114.67% from the company’s previous close.

Several other brokerages have also recently commented on AXSM. Robert W. Baird increased their price target on Axsome Therapeutics from $108.00 to $112.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Citigroup reduced their price target on Axsome Therapeutics from $127.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. Morgan Stanley raised Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $90.00 to $115.00 in a research report on Monday, April 29th. Royal Bank of Canada reissued an “outperform” rating and set a $131.00 price target on shares of Axsome Therapeutics in a research report on Monday, July 22nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $130.00 price target on shares of Axsome Therapeutics in a research report on Monday. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $123.38.

Axsome Therapeutics Trading Down 2.0 %

NASDAQ AXSM opened at $83.85 on Tuesday. The stock has a 50-day simple moving average of $79.95 and a 200 day simple moving average of $79.41. The company has a market capitalization of $3.98 billion, a PE ratio of -13.14 and a beta of 1.26. The company has a current ratio of 3.20, a quick ratio of 3.09 and a debt-to-equity ratio of 1.25. Axsome Therapeutics has a 12 month low of $55.02 and a 12 month high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Monday, May 6th. The company reported ($1.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.11. Axsome Therapeutics had a negative return on equity of 87.17% and a negative net margin of 118.07%. The firm had revenue of $75.00 million during the quarter, compared to analysts’ expectations of $69.91 million. Research analysts forecast that Axsome Therapeutics will post -4.65 EPS for the current year.

Insider Transactions at Axsome Therapeutics

In other news, COO Mark L. Jacobson sold 7,910 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total transaction of $587,792.10. Following the transaction, the chief operating officer now owns 5,783 shares in the company, valued at $429,734.73. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Mark Coleman sold 5,249 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.21, for a total transaction of $394,777.29. Following the sale, the director now owns 19,848 shares of the company’s stock, valued at $1,492,768.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Mark L. Jacobson sold 7,910 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total value of $587,792.10. Following the transaction, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at $429,734.73. The disclosure for this sale can be found here. 22.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Axsome Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock worth $298,474,000 after purchasing an additional 43,512 shares during the last quarter. Perceptive Advisors LLC raised its position in shares of Axsome Therapeutics by 115.5% in the 4th quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock worth $82,616,000 after acquiring an additional 556,370 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Axsome Therapeutics by 57.4% in the 4th quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock worth $66,633,000 after acquiring an additional 305,264 shares in the last quarter. Bellevue Group AG raised its position in shares of Axsome Therapeutics by 7.9% in the 1st quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock worth $54,701,000 after acquiring an additional 50,104 shares in the last quarter. Finally, Hood River Capital Management LLC raised its position in shares of Axsome Therapeutics by 32.6% in the 1st quarter. Hood River Capital Management LLC now owns 520,750 shares of the company’s stock worth $41,556,000 after acquiring an additional 127,997 shares in the last quarter. 81.49% of the stock is owned by institutional investors.

About Axsome Therapeutics

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company's commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.