Axsome Therapeutics’ (AXSM) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research note released on Tuesday morning,Benzinga reports. The firm currently has a $180.00 price target on the stock.

A number of other research firms have also recently issued reports on AXSM. Needham & Company LLC decreased their price target on shares of Axsome Therapeutics from $153.00 to $150.00 and set a “buy” rating for the company in a report on Monday. Wells Fargo & Company reaffirmed an “overweight” rating and set a $165.00 price objective (up previously from $160.00) on shares of Axsome Therapeutics in a research report on Tuesday, May 6th. Jefferies Financial Group assumed coverage on shares of Axsome Therapeutics in a research report on Monday, April 7th. They set a “buy” rating and a $200.00 price objective for the company. Mizuho upped their price objective on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an “outperform” rating in a research report on Thursday, March 27th. Finally, Royal Bank of Canada upped their price objective on shares of Axsome Therapeutics from $190.00 to $193.00 and gave the company an “outperform” rating in a research report on Tuesday, April 29th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $172.33.

Axsome Therapeutics Stock Down 1.7%

AXSM stock opened at $106.25 on Tuesday. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. Axsome Therapeutics has a 52-week low of $70.52 and a 52-week high of $139.13. The company has a 50-day moving average of $106.32 and a two-hundred day moving average of $106.90. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of -17.74 and a beta of 0.47.

Insider Buying and Selling

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 25,000 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the transaction, the chief operating officer now directly owns 5,783 shares in the company, valued at $638,674.52. This trade represents a 81.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Coleman sold 3,750 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total transaction of $395,512.50. Following the sale, the director now owns 50,387 shares of the company’s stock, valued at approximately $5,314,316.89. This represents a 6.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,423 shares of company stock worth $7,711,619. 22.30% of the stock is owned by insiders.

Institutional Trading of Axsome Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Axsome Therapeutics in the first quarter worth approximately $25,000. Quantbot Technologies LP purchased a new position in Axsome Therapeutics in the 1st quarter worth approximately $31,000. NBC Securities Inc. bought a new position in shares of Axsome Therapeutics during the first quarter worth $31,000. AlphaQuest LLC purchased a new position in shares of Axsome Therapeutics during the first quarter valued at about $38,000. Finally, Neo Ivy Capital Management bought a new position in shares of Axsome Therapeutics during the 1st quarter valued at approximately $41,000. Hedge funds and other institutional investors 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.