Axsome Therapeutics (NASDAQ:AXSM) Sets New 52-Week High – Time to Buy?

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) reached a new 52-week high during trading on Friday . The company traded as high as $240.76 and last traded at $241.3280, with a volume of 279345 shares changing hands. The stock had previously closed at $231.48.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AXSM shares. UBS Group boosted their target price on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Jefferies Financial Group boosted their target price on shares of Axsome Therapeutics from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Robert W. Baird boosted their target price on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Piper Sandler reissued an “overweight” rating and set a $258.00 target price on shares of Axsome Therapeutics in a research note on Monday, May 4th. Finally, Wells Fargo & Company boosted their target price on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $251.26.

Axsome Therapeutics Stock Up 0.4%

The company has a market cap of $11.96 billion, a price-to-earnings ratio of -62.28 and a beta of 0.61. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.27. The business has a fifty day moving average price of $202.66 and a two-hundred day moving average price of $178.42.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). The business had revenue of $191.20 million during the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The company’s revenue for the quarter was up 57.4% on a year-over-year basis. On average, equities analysts predict that Axsome Therapeutics, Inc. will post -2.24 earnings per share for the current year.

Insider Activity

In other news, insider Ari Maizel sold 7,500 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $182.42, for a total value of $1,368,150.00. Following the transaction, the insider owned 7,500 shares in the company, valued at $1,368,150. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Coleman sold 6,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $230.30, for a total value of $1,381,800.00. Following the completion of the transaction, the director owned 35,140 shares in the company, valued at $8,092,742. This represents a 14.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,787 shares of company stock worth $6,470,391 in the last 90 days. Company insiders own 20.60% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Several large investors have recently made changes to their positions in AXSM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Axsome Therapeutics by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,923 shares of the company’s stock valued at $2,557,000 after buying an additional 1,002 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Axsome Therapeutics by 2,407.9% in the 1st quarter. Jones Financial Companies Lllp now owns 7,624 shares of the company’s stock valued at $889,000 after buying an additional 7,320 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Axsome Therapeutics by 38.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 301,718 shares of the company’s stock valued at $35,189,000 after buying an additional 84,151 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of Axsome Therapeutics in the 1st quarter valued at approximately $307,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Axsome Therapeutics by 29.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,892 shares of the company’s stock valued at $8,735,000 after buying an additional 17,250 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

About Axsome Therapeutics

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.