Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives Average Recommendation of “Moderate Buy” from Analysts

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has been assigned an average rating of “Moderate Buy” from the nineteen analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seventeen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $183.9375.

Several analysts recently weighed in on AXSM shares. Needham & Company LLC raised their target price on shares of Axsome Therapeutics from $154.00 to $169.00 and gave the company a “buy” rating in a report on Wednesday, December 31st. Cowen reissued a “buy” rating on shares of Axsome Therapeutics in a research report on Wednesday. Oppenheimer reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Axsome Therapeutics in a research report on Wednesday. Royal Bank Of Canada increased their target price on Axsome Therapeutics from $189.00 to $198.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Wednesday, October 8th.

Insider Activity

In related news, CEO Herriot Tabuteau sold 10,558 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $148.18, for a total transaction of $1,564,484.44. Following the completion of the sale, the chief executive officer owned 7,229 shares in the company, valued at $1,071,193.22. The trade was a 59.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark E. Saad sold 37,577 shares of the stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $165.18, for a total transaction of $6,206,968.86. Following the completion of the transaction, the director owned 10,002 shares in the company, valued at $1,652,130.36. This represents a 78.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 307,653 shares of company stock worth $42,779,613 in the last three months. Corporate insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in Axsome Therapeutics by 84.1% in the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after acquiring an additional 609,516 shares in the last quarter. Norges Bank acquired a new stake in shares of Axsome Therapeutics in the 2nd quarter valued at about $48,889,000. Invesco Ltd. boosted its position in shares of Axsome Therapeutics by 73.3% in the 3rd quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock valued at $120,303,000 after purchasing an additional 419,008 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in Axsome Therapeutics by 831.3% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company’s stock worth $46,662,000 after buying an additional 399,000 shares during the last quarter. Finally, Hood River Capital Management LLC acquired a new position in Axsome Therapeutics during the second quarter worth approximately $38,740,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Stock Down 2.2%

Shares of NASDAQ AXSM opened at $178.69 on Wednesday. The stock has a market cap of $9.01 billion, a P/E ratio of -38.26, a PEG ratio of 12.83 and a beta of 0.44. The business’s fifty day simple moving average is $147.29 and its 200-day simple moving average is $125.78. Axsome Therapeutics has a 12-month low of $79.19 and a 12-month high of $184.40. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 1.66.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.12). The company had revenue of $170.99 million for the quarter, compared to analysts’ expectations of $162.96 million. Axsome Therapeutics had a negative return on equity of 277.31% and a negative net margin of 40.90%.The business’s revenue for the quarter was up 63.2% on a year-over-year basis. As a group, equities analysts predict that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.