Axsome Therapeutics (NASDAQ:AXSM) Shares Gap Up to $71.71

Axsome Therapeutics, Inc. (NASDAQ:AXSM)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $71.71, but opened at $74.97. Axsome Therapeutics shares last traded at $75.01, with a volume of 94,798 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AXSM. Truist Financial reiterated a “buy” rating and issued a $150.00 target price on shares of Axsome Therapeutics in a report on Tuesday, March 26th. Guggenheim boosted their price target on shares of Axsome Therapeutics from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. UBS Group assumed coverage on shares of Axsome Therapeutics in a research note on Tuesday, February 6th. They issued a “buy” rating and a $111.00 price target on the stock. Royal Bank of Canada boosted their price target on shares of Axsome Therapeutics from $123.00 to $128.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Finally, Robert W. Baird assumed coverage on shares of Axsome Therapeutics in a research note on Tuesday, March 19th. They issued an “outperform” rating and a $108.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $122.00.

Axsome Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.52 and a current ratio of 3.63. The stock has a market capitalization of $3.52 billion, a PE ratio of -14.22 and a beta of 1.13. The firm’s 50 day moving average is $75.29 and its two-hundred day moving average is $75.27.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($1.21) by $0.48. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. The company had revenue of $71.53 million during the quarter, compared to analysts’ expectations of $70.38 million. As a group, research analysts predict that Axsome Therapeutics, Inc. will post -3.81 earnings per share for the current year.

Insiders Place Their Bets

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 24,662 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $77.24, for a total transaction of $1,904,892.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Roger Jeffs sold 29,976 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total value of $2,089,327.20. Following the completion of the transaction, the director now owns 120,756 shares in the company, valued at approximately $8,416,693.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Mark L. Jacobson sold 24,662 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $77.24, for a total transaction of $1,904,892.88. The disclosure for this sale can be found here. 24.50% of the stock is currently owned by company insiders.

Institutional Trading of Axsome Therapeutics

Large investors have recently bought and sold shares of the business. Washington Trust Advisors Inc. acquired a new stake in Axsome Therapeutics during the 4th quarter worth $26,000. Fifth Third Bancorp raised its position in Axsome Therapeutics by 100.0% during the 3rd quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock worth $28,000 after buying an additional 200 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in Axsome Therapeutics by 110.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,204 shares of the company’s stock worth $84,000 after buying an additional 633 shares during the last quarter. Janiczek Wealth Management LLC purchased a new position in Axsome Therapeutics during the 1st quarter worth $97,000. Finally, SG Americas Securities LLC purchased a new position in Axsome Therapeutics during the 4th quarter worth $170,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

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.