Axsome Therapeutics (NASDAQ:AXSM) Earns Outperform Rating from Analysts at Oppenheimer

Oppenheimer initiated coverage on shares of Axsome Therapeutics (NASDAQ:AXSM) in a report issued on Tuesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $185.00 price objective on the stock.

Other analysts also recently issued research reports about the stock. Robert W. Baird raised their price target 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. Wells Fargo & Company reissued an “overweight” rating and set a $165.00 price target (up previously from $160.00) on shares of Axsome Therapeutics in a research report on Tuesday, May 6th. HC Wainwright reissued a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a report on Thursday, May 22nd. Leerink Partners boosted their price target on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, February 10th. Finally, Cantor Fitzgerald raised shares of Axsome Therapeutics to a “strong-buy” rating in a report on Wednesday, May 14th. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $173.00.

Axsome Therapeutics Stock Up 2.3%

AXSM stock opened at $110.11 on Tuesday. Axsome Therapeutics has a twelve month low of $64.11 and a twelve month high of $139.13. 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 company has a market capitalization of $5.42 billion, a P/E ratio of -18.38 and a beta of 0.46. The firm has a 50 day simple moving average of $106.26 and a 200-day simple moving average of $106.34.

Insiders Place Their Bets

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $103.45, for a total value of $2,069,000.00. Following the completion of the sale, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at approximately $598,251.35. This represents a 77.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Coleman sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were 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 directly owns 54,137 shares of the company’s stock, valued at $5,819,186.13. The trade was a 5.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,423 shares of company stock worth $4,950,619. 22.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of AXSM. Caitong International Asset Management Co. Ltd acquired a new stake in Axsome Therapeutics during the 1st quarter worth about $25,000. Quantbot Technologies LP purchased a new stake in Axsome Therapeutics during the first quarter valued at about $31,000. NBC Securities Inc. purchased a new stake in Axsome Therapeutics during the first quarter valued at about $31,000. AlphaQuest LLC purchased a new stake in Axsome Therapeutics during the first quarter valued at about $38,000. Finally, Neo Ivy Capital Management purchased a new stake in Axsome Therapeutics during the first quarter valued at about $41,000. 81.49% of the stock is owned by institutional investors and hedge funds.

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.