Cantor Fitzgerald Reiterates “Overweight” Rating for Axsome Therapeutics (NASDAQ:AXSM)

Cantor Fitzgerald reiterated their overweight rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a report issued on Monday, Benzinga reports. Cantor Fitzgerald currently has a $107.00 price objective on the stock.

A number of other equities research analysts also recently issued reports on AXSM. StockNews.com downgraded shares of Axsome Therapeutics from a hold rating to a sell rating in a research report on Wednesday, August 14th. Royal Bank of Canada reduced their target price on Axsome Therapeutics from $131.00 to $130.00 and set an outperform rating for the company in a report on Tuesday, August 6th. Wells Fargo & Company started coverage on Axsome Therapeutics in a report on Tuesday, September 3rd. They set an overweight rating and a $140.00 price target on the stock. Needham & Company LLC reissued a buy rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Finally, Mizuho reaffirmed a buy rating and set a $106.00 target price on shares of Axsome Therapeutics in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $124.57.

Axsome Therapeutics Stock Up 3.0 %

Shares of NASDAQ AXSM opened at $94.32 on Monday. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.48 and a quick ratio of 2.40. The company has a 50-day moving average price of $87.67 and a 200-day moving average price of $79.48. The stock has a market capitalization of $4.48 billion, a P/E ratio of -14.78 and a beta of 1.25. Axsome Therapeutics has a 1 year low of $55.02 and a 1 year high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, August 5th. The company reported ($1.24) EPS for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.06. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. The firm had revenue of $87.17 million during the quarter, compared to analyst estimates of $84.53 million. On average, equities research analysts forecast that Axsome Therapeutics will post -4.73 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the sale, the director now owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was 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 owns 10,002 shares in the company, valued at approximately $913,282.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Mark L. Jacobson sold 47,739 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.26, for a total value of $4,022,488.14. Following 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 currently owned by corporate insiders.

Institutional Trading of Axsome Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Axsome Therapeutics during the 2nd quarter valued at about $27,000. EntryPoint Capital LLC bought a new stake in Axsome Therapeutics during the first quarter valued at approximately $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Axsome Therapeutics in the 2nd quarter worth approximately $47,000. Russell Investments Group Ltd. grew its stake in Axsome Therapeutics by 5,550.0% in the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after buying an additional 777 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of Axsome Therapeutics by 54,750.0% in the 1st quarter. Covestor Ltd now owns 1,097 shares of the company’s stock worth $88,000 after buying an additional 1,095 shares during the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Axsome Therapeutics Company Profile

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.