Axsome Therapeutics (NASDAQ:AXSM) Receives Buy Rating from HC Wainwright

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $290.00 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 45.52% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. Guggenheim increased their price target on shares of Axsome Therapeutics from $260.00 to $275.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $272.00 target price on shares of Axsome Therapeutics in a research report on Monday, May 4th. Royal Bank Of Canada reduced their target price on Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. Needham & Company LLC raised their price target on Axsome Therapeutics from $267.00 to $268.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Finally, UBS Group restated a “buy” rating on shares of Axsome Therapeutics in a research report on Monday, August 24th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Axsome Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $267.60.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM traded up $0.27 during midday trading on Monday, hitting $199.29. 105,580 shares of the company’s stock were exchanged, compared to its average volume of 753,557. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 1.52. The business’s fifty day moving average price is $227.43 and its two-hundred day moving average price is $206.89. The company has a market cap of $10.44 billion, a price-to-earnings ratio of -53.14 and a beta of 0.65. Axsome Therapeutics has a 12-month low of $112.90 and a 12-month high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, August 10th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The company had revenue of $218.38 million during the quarter, compared to analysts’ expectations of $221.11 million. As a group, research analysts forecast that Axsome Therapeutics will post -2.8 EPS for the current fiscal year.

Insider Buying and Selling

In other Axsome Therapeutics news, Director Mark Coleman sold 5,537 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $223.39, for a total transaction of $1,236,910.43. Following the completion of the sale, the director directly owned 29,603 shares in the company, valued at $6,613,014.17. This represents a 15.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Roger Jeffs sold 286 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total value of $70,407.48. Following the transaction, the director directly owned 58,653 shares in the company, valued at $14,439,195.54. This trade represents a 0.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 188,766 shares of company stock worth $43,903,086 over the last 90 days. Insiders own 20.60% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Several institutional investors have recently bought and sold shares of AXSM. Norges Bank purchased a new position in shares of Axsome Therapeutics in the fourth quarter valued at about $90,490,000. Axiom Investors LLC DE boosted its holdings in shares of Axsome Therapeutics by 28.7% during the fourth quarter. Axiom Investors LLC DE now owns 63,390 shares of the company’s stock worth $11,578,000 after purchasing an additional 14,137 shares during the period. Legato Capital Management LLC boosted its holdings in shares of Axsome Therapeutics by 90.6% during the fourth quarter. Legato Capital Management LLC now owns 9,627 shares of the company’s stock worth $1,758,000 after purchasing an additional 4,576 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Axsome Therapeutics by 60.1% in the fourth quarter. BNP Paribas Financial Markets now owns 304,388 shares of the company’s stock worth $55,593,000 after purchasing an additional 114,282 shares during the last quarter. Finally, BlackRock Inc. bought a new stake in shares of Axsome Therapeutics in the second quarter worth about $759,695,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

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.