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

HC Wainwright reaffirmed their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research note issued to investors on Thursday,Benzinga reports. HC Wainwright currently has a $180.00 price objective on the stock.

Several other equities research analysts have also recently weighed in on AXSM. Deutsche Bank Aktiengesellschaft initiated coverage on Axsome Therapeutics in a research note on Tuesday, February 11th. They issued a “buy” rating and a $176.00 price target for the company. Robert W. Baird increased their price objective on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 6th. Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a report on Wednesday, May 14th. Royal Bank of Canada boosted their price objective on Axsome Therapeutics from $190.00 to $193.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Finally, William Blair reaffirmed an “outperform” rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Axsome Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $172.14.

Axsome Therapeutics Trading Up 0.7%

Shares of NASDAQ AXSM opened at $105.07 on Thursday. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. Axsome Therapeutics has a 52-week low of $64.11 and a 52-week high of $139.13. The stock has a market cap of $5.17 billion, a P/E ratio of -17.54 and a beta of 0.46. The firm has a 50 day moving average price of $108.86 and a two-hundred day moving average price of $105.79.

Insider Activity at Axsome Therapeutics

In related news, Director Mark Coleman sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $107.49, for a total transaction of $322,470.00. Following the completion of the sale, the director now owns 54,137 shares in the company, valued at approximately $5,819,186.13. This represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 22.30% of the stock is owned by insiders.

Institutional Trading of Axsome Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Axsome Therapeutics in the first quarter valued at about $25,000. Quantbot Technologies LP purchased a new stake in shares of Axsome Therapeutics in the first quarter valued at about $31,000. NBC Securities Inc. purchased a new stake in shares of Axsome Therapeutics in the first quarter valued at about $31,000. AlphaQuest LLC purchased a new stake in shares of Axsome Therapeutics in the first quarter valued at about $38,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Axsome Therapeutics in the first quarter valued at about $41,000. 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.