Axsome Therapeutics (NASDAQ:AXSM) Given “Overweight” Rating at Cantor Fitzgerald

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a research report issued on Friday, Benzinga reports. They currently have a $107.00 price target on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 15.54% from the company’s current price.

AXSM has been the subject of several other reports. HC Wainwright reiterated a “buy” rating and issued a $180.00 target price on shares of Axsome Therapeutics in a research note on Thursday. Wells Fargo & Company started coverage on Axsome Therapeutics in a report on Tuesday. They issued an “overweight” rating and a $140.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price objective on shares of Axsome Therapeutics in a report on Thursday. Royal Bank of Canada decreased their target price on shares of Axsome Therapeutics from $131.00 to $130.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Finally, StockNews.com lowered shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $124.57.

Axsome Therapeutics Trading Down 1.2 %

Shares of NASDAQ AXSM traded down $1.08 during midday trading on Friday, reaching $92.61. 71,579 shares of the stock were exchanged, compared to its average volume of 664,513. The stock has a 50 day moving average price of $85.18 and a 200-day moving average price of $78.70. The company has a current ratio of 2.48, a quick ratio of 2.40 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $4.40 billion, a P/E ratio of -14.52 and a beta of 1.26. Axsome Therapeutics has a 52-week low of $55.02 and a 52-week high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, August 5th. The company reported ($1.24) EPS for the quarter, topping the consensus estimate of ($1.30) by $0.06. The firm had revenue of $87.17 million during the quarter, compared to analysts’ expectations of $84.53 million. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. Equities research analysts expect that Axsome Therapeutics will post -4.72 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Mark L. Jacobson sold 47,739 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.26, for a total value of $4,022,488.14. Following the completion of the sale, the chief operating officer now directly owns 5,783 shares in the company, valued at approximately $487,275.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Avidity Partners Management LP grew its holdings in Axsome Therapeutics by 54.8% during the 4th quarter. Avidity Partners Management LP now owns 459,400 shares of the company’s stock valued at $36,564,000 after purchasing an additional 162,600 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Axsome Therapeutics during the fourth quarter valued at about $669,000. Vanguard Group Inc. lifted its stake in shares of Axsome Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock worth $298,474,000 after acquiring an additional 43,512 shares in the last quarter. Bellevue Group AG boosted its holdings in Axsome Therapeutics by 7.9% in the first quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock valued at $54,701,000 after purchasing an additional 50,104 shares during the last quarter. Finally, Affinity Asset Advisors LLC acquired a new stake in Axsome Therapeutics during the 4th quarter valued at approximately $3,980,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.