Axsome Therapeutics (NASDAQ:AXSM) Raised to Strong-Buy at Truist Financial

Axsome Therapeutics (NASDAQ:AXSM) was upgraded by investment analysts at Truist Financial to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

A number of other research firms have also recently issued reports on AXSM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Monday, April 20th. Morgan Stanley upgraded shares of Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a report on Thursday. Piper Sandler reaffirmed an “overweight” rating and issued a $258.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft set a $280.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, May 5th. Finally, Wolfe Research initiated coverage on Axsome Therapeutics in a report on Monday, February 23rd. They set an “outperform” rating and a $230.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $256.79.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $253.40 on Monday. Axsome Therapeutics has a fifty-two week low of $96.09 and a fifty-two week high of $257.92. The stock’s 50-day moving average is $212.64 and its two-hundred day moving average is $182.89. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32. The firm has a market cap of $13.04 billion, a P/E ratio of -67.94 and a beta of 0.61.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The firm had revenue of $191.20 million for 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. Analysts predict that Axsome Therapeutics will post -2.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 33,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total value of $7,922,970.00. Following the transaction, the chief financial officer directly owned 42,867 shares in the company, valued at approximately $10,291,938.03. This trade represents a 43.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark Coleman sold 643 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $249.00, for a total transaction of $160,107.00. Following the transaction, the director directly owned 30,389 shares of the company’s stock, valued at approximately $7,566,861. This represents a 2.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 113,686 shares of company stock worth $26,666,006 in the last quarter. 20.60% of the stock is owned by corporate insiders.

Institutional Trading of Axsome Therapeutics

Several hedge funds have recently added to or reduced their stakes in AXSM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Axsome Therapeutics by 2,407.9% in the first quarter. Jones Financial Companies Lllp now owns 7,624 shares of the company’s stock valued at $889,000 after acquiring an additional 7,320 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Axsome Therapeutics by 38.7% in the first quarter. Goldman Sachs Group Inc. now owns 301,718 shares of the company’s stock worth $35,189,000 after acquiring an additional 84,151 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of Axsome Therapeutics in the first quarter worth $307,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Axsome Therapeutics by 29.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,892 shares of the company’s stock worth $8,735,000 after acquiring an additional 17,250 shares during the period. Institutional investors own 81.49% of the company’s stock.

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.