Axsome Therapeutics (NASDAQ:AXSM) Upgraded at Truist Financial

Truist Financial upgraded shares of Axsome Therapeutics (NASDAQ:AXSM) to a strong-buy rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other analysts also recently weighed in on the stock. Wolfe Research initiated coverage on shares of Axsome Therapeutics in a report on Monday, February 23rd. They set an “outperform” rating and a $230.00 price target for the company. UBS Group lifted their price target on Axsome Therapeutics from $248.00 to $251.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Leerink Partners increased their target price on shares of Axsome Therapeutics from $150.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Oppenheimer restated an “outperform” rating and issued a $220.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, December 31st. Finally, Wells Fargo & Company lifted their price target on shares of Axsome Therapeutics from $193.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $217.59.

Axsome Therapeutics Trading Down 4.8%

Shares of AXSM stock opened at $156.35 on Wednesday. The company has a current ratio of 1.55, a quick ratio of 1.48 and a debt-to-equity ratio of 1.38. The stock has a market cap of $8.00 billion, a P/E ratio of -42.37 and a beta of 0.43. The stock has a 50 day simple moving average of $173.13 and a 200 day simple moving average of $152.00. Axsome Therapeutics has a 1 year low of $86.99 and a 1 year high of $191.50.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, February 23rd. The company reported ($0.56) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.14. The firm had revenue of $196.00 million for the quarter, compared to analyst estimates of $191.33 million. Axsome Therapeutics had a negative return on equity of 232.61% and a negative net margin of 28.69%.The business’s revenue for the quarter was up 65.0% on a year-over-year basis. On average, research analysts predict that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 32,410 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $185.60, for a total transaction of $6,015,296.00. Following the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,341,702.40. This trade represents a 81.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mark L. Jacobson sold 35,378 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $161.88, for a total transaction of $5,726,990.64. The SEC filing for this sale provides additional information. Insiders have sold a total of 289,279 shares of company stock valued at $49,496,963 in the last three months. Insiders own 22.30% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Birchview Capital LP lifted its holdings in Axsome Therapeutics by 1.0% in the fourth quarter. Birchview Capital LP now owns 6,061 shares of the company’s stock worth $1,107,000 after buying an additional 61 shares during the period. PNC Financial Services Group Inc. lifted its position in Axsome Therapeutics by 3.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company’s stock valued at $351,000 after buying an additional 65 shares during the period. Xponance LLC boosted its holdings in shares of Axsome Therapeutics by 2.4% during the 4th quarter. Xponance LLC now owns 3,265 shares of the company’s stock valued at $596,000 after buying an additional 76 shares in the last quarter. Allworth Financial LP grew its position in shares of Axsome Therapeutics by 6.6% in the 3rd quarter. Allworth Financial LP now owns 1,442 shares of the company’s stock worth $175,000 after buying an additional 89 shares during the period. Finally, Great Lakes Advisors LLC grew its position in shares of Axsome Therapeutics by 1.3% in the 4th quarter. Great Lakes Advisors LLC now owns 6,765 shares of the company’s stock worth $1,236,000 after buying an additional 89 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

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.