HC Wainwright Lowers Axsome Therapeutics (NASDAQ:AXSM) Price Target to $180.00

Axsome Therapeutics (NASDAQ:AXSM) had its price target reduced by HC Wainwright from $200.00 to $180.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also weighed in on the company. Wells Fargo & Company reaffirmed an “overweight” rating and set a $165.00 price objective (up previously from $160.00) on shares of Axsome Therapeutics in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $153.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Axsome Therapeutics in a report on Tuesday, February 11th. They issued a “buy” rating and a $176.00 price target for the company. William Blair reissued an “outperform” rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Finally, Robert W. Baird raised their price target on Axsome Therapeutics from $160.00 to $162.00 and gave the company an “outperform” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $172.14.

Axsome Therapeutics Stock Down 1.0 %

Axsome Therapeutics stock opened at $107.76 on Wednesday. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of -17.99 and a beta of 0.46. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The stock has a 50 day moving average of $112.01 and a two-hundred day moving average of $104.51. Axsome Therapeutics has a twelve month low of $64.11 and a twelve month high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.01. The firm had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. As a group, research analysts expect that Axsome Therapeutics will post -2.79 earnings per share for the current year.

Insider Transactions at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the transaction, the chief financial officer now owns 42,187 shares in the company, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 22.30% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of AXSM. NBC Securities Inc. purchased a new position in shares of Axsome Therapeutics in the first quarter valued at $31,000. Neo Ivy Capital Management purchased a new stake in Axsome Therapeutics during the 1st quarter worth $41,000. Raiffeisen Bank International AG acquired a new position in Axsome Therapeutics in the 4th quarter worth $51,000. Assetmark Inc. purchased a new position in Axsome Therapeutics in the 4th quarter valued at about $52,000. Finally, R Squared Ltd acquired a new stake in shares of Axsome Therapeutics during the fourth quarter valued at about $64,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

About Axsome Therapeutics

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.