Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives Average Rating of “Buy” from Brokerages

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have been given a consensus rating of “Buy” by the fourteen analysts that are currently covering the firm, Marketbeat Ratings reports. Fourteen research analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have covered the stock in the last year is $124.57.

AXSM has been the subject of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price target on shares of Axsome Therapeutics in a research report on Monday. HC Wainwright reissued a “buy” rating and issued a $180.00 target price on shares of Axsome Therapeutics in a report on Thursday, September 5th. StockNews.com downgraded shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Wells Fargo & Company assumed coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $130.00 target price on shares of Axsome Therapeutics in a research note on Thursday, September 5th.

Insider Buying and Selling

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the transaction, the director now owns 10,002 shares in the company, valued at approximately $913,282.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the transaction, the director now directly owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mark L. Jacobson sold 47,739 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the sale, the chief operating officer now owns 5,783 shares in the company, valued at $487,275.58. The disclosure for this sale can be found here. 22.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXSM. Charles Schwab Investment Management Inc. increased its position in shares of Axsome Therapeutics by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 295,701 shares of the company’s stock valued at $23,535,000 after purchasing an additional 5,830 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Axsome Therapeutics in the fourth quarter valued at $669,000. Principal Financial Group Inc. lifted its holdings in shares of Axsome Therapeutics by 1.3% in the 4th quarter. Principal Financial Group Inc. now owns 9,497 shares of the company’s stock worth $756,000 after acquiring an additional 120 shares during the last quarter. Meridian Wealth Management LLC boosted its stake in shares of Axsome Therapeutics by 6.6% during the 4th quarter. Meridian Wealth Management LLC now owns 20,498 shares of the company’s stock worth $1,631,000 after purchasing an additional 1,275 shares during the period. Finally, Norges Bank bought a new position in Axsome Therapeutics during the 4th quarter valued at about $15,530,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM opened at $91.54 on Thursday. The company has a quick ratio of 2.40, a current ratio of 2.48 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $4.35 billion, a PE ratio of -14.35 and a beta of 1.25. The firm’s 50 day moving average price is $87.47 and its 200-day moving average price is $79.37. Axsome Therapeutics has a twelve month low of $55.02 and a twelve month high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, topping the consensus estimate of ($1.30) by $0.06. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. The business had revenue of $87.17 million for the quarter, compared to the consensus estimate of $84.53 million. Equities research analysts expect that Axsome Therapeutics will post -4.73 EPS for the current year.

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.