Axsome Therapeutics (NASDAQ:AXSM) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research note issued to investors on Wednesday,Benzinga reports. HC Wainwright currently has a $290.00 price target on the stock.

Several other brokerages have also recently issued reports on AXSM. TD Cowen raised their price objective on Axsome Therapeutics from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Mizuho upped their target price on Axsome Therapeutics from $228.00 to $310.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Oppenheimer set a $280.00 price target on shares of Axsome Therapeutics in a report on Monday, May 4th. UBS Group raised their price target on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the stock a “buy” rating in a research report on Friday, April 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $272.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.05.

Axsome Therapeutics Price Performance

Shares of AXSM opened at $245.57 on Wednesday. The firm has a market capitalization of $12.64 billion, a PE ratio of -65.84 and a beta of 0.60. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32. Axsome Therapeutics has a 1-year low of $96.09 and a 1-year high of $260.19. The company’s fifty day moving average price is $234.52 and its 200-day moving average price is $194.50.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). The firm had revenue of $191.20 million during the quarter, compared to analysts’ expectations of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The business’s revenue for the quarter was up 57.4% on a year-over-year basis. On average, equities research analysts predict that Axsome Therapeutics will post -2.31 EPS for the current year.

Insiders Place Their Bets

In other news, Director Mark Coleman sold 643 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $249.00, for a total transaction of $160,107.00. Following the transaction, the director owned 30,389 shares of the company’s stock, valued at approximately $7,566,861. The trade was a 2.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Roger Jeffs sold 286 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total transaction of $70,407.48. Following the transaction, the director directly owned 58,653 shares in the company, valued at approximately $14,439,195.54. The trade was a 0.49% decrease in their position. 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. Over the last ninety days, insiders sold 163,352 shares of company stock valued at $38,598,262. Insiders own 20.60% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

A number of institutional investors have recently bought and sold shares of the company. Franklin Street Advisors Inc. NC acquired a new position in Axsome Therapeutics during the 4th quarter worth about $1,826,000. Pictet Asset Management Holding SA grew its position in Axsome Therapeutics by 20.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 436,063 shares of the company’s stock valued at $79,643,000 after acquiring an additional 73,925 shares in the last quarter. Norges Bank acquired a new position in Axsome Therapeutics in the 4th quarter valued at about $90,490,000. JPMorgan Chase & Co. increased its stake in Axsome Therapeutics by 42.6% during the third quarter. JPMorgan Chase & Co. now owns 250,513 shares of the company’s stock worth $30,425,000 after purchasing an additional 74,885 shares during the period. Finally, Axiom Investors LLC DE increased its stake in 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. 81.49% of the stock is 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.