Brokerages Set Axsome Therapeutics, Inc. (NASDAQ:AXSM) PT at $216.12

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have been assigned an average recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and seventeen have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $216.1176.

AXSM has been the subject of several analyst reports. Guggenheim increased their price objective on Axsome Therapeutics from $205.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Robert W. Baird set a $209.00 target price on Axsome Therapeutics in a research note on Tuesday, January 13th. HC Wainwright upped their target price on Axsome Therapeutics from $200.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Morgan Stanley set a $207.00 price target on Axsome Therapeutics in a research note on Tuesday, February 24th. Finally, Truist Financial set a $200.00 price target on Axsome Therapeutics in a report on Monday, February 23rd.

Insider Transactions at Axsome Therapeutics

In related news, Director Mark E. Saad sold 37,577 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $165.18, for a total value of $6,206,968.86. Following the completion of the sale, the director directly owned 10,002 shares in the company, valued at $1,652,130.36. This trade represents a 78.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Coleman sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $161.11, for a total transaction of $4,027,750.00. Following the sale, the director directly owned 47,140 shares in the company, valued at approximately $7,594,725.40. This represents a 34.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 289,279 shares of company stock worth $49,496,963 over the last ninety days. 22.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Axsome Therapeutics by 6.0% in the third quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock valued at $507,739,000 after purchasing an additional 235,626 shares during the period. Stanley Laman Group Ltd. acquired a new stake in shares of Axsome Therapeutics during the third quarter worth about $2,125,000. Aberdeen Group plc lifted its holdings in shares of Axsome Therapeutics by 15.5% during the third quarter. Aberdeen Group plc now owns 94,648 shares of the company’s stock worth $11,495,000 after purchasing an additional 12,732 shares during the period. Swiss National Bank boosted its position in Axsome Therapeutics by 6.9% in the second quarter. Swiss National Bank now owns 65,200 shares of the company’s stock valued at $6,806,000 after buying an additional 4,200 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in Axsome Therapeutics by 107.7% in the third quarter. TD Asset Management Inc now owns 44,192 shares of the company’s stock valued at $5,367,000 after buying an additional 22,914 shares during the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Trading Down 1.2%

NASDAQ AXSM opened at $156.92 on Monday. The company has a quick ratio of 1.48, a current ratio of 1.55 and a debt-to-equity ratio of 1.38. The firm has a market cap of $8.03 billion, a PE ratio of -42.53 and a beta of 0.43. The company has a 50 day moving average price of $174.76 and a 200 day moving average price of $150.79. Axsome Therapeutics has a 52 week low of $86.99 and a 52 week high of $191.50.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, February 23rd. The company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.14. Axsome Therapeutics had a negative net margin of 28.69% and a negative return on equity of 232.61%. The company had revenue of $196.00 million during the quarter, compared to the consensus estimate of $191.33 million. Axsome Therapeutics’s revenue for the quarter was up 65.0% on a year-over-year basis. As a group, sell-side analysts forecast that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.

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.