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

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

Several other analysts also recently issued reports on the company. Truist Financial raised Axsome Therapeutics to a “strong-buy” rating in a report on Monday, June 15th. Jefferies Financial Group restated a “buy” rating and set a $380.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, June 11th. Royal Bank Of Canada increased their target price on Axsome Therapeutics from $302.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. TD Cowen raised their target price on Axsome Therapeutics from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Finally, Morgan Stanley raised shares of Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $259.05.

Axsome Therapeutics Stock Up 1.0%

AXSM stock opened at $237.53 on Wednesday. The firm has a market cap of $12.22 billion, a price-to-earnings ratio of -63.68 and a beta of 0.60. Axsome Therapeutics has a 1-year low of $96.09 and a 1-year high of $260.19. The firm has a fifty day moving average price of $237.75 and a two-hundred day moving average price of $197.42. 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 (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). The business had revenue of $191.20 million for the quarter, compared to the consensus estimate of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The firm’s revenue was up 57.4% on a year-over-year basis. Research analysts predict that Axsome Therapeutics will post -2.45 EPS for the current year.

Insiders Place Their Bets

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 49,666 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $240.25, for a total transaction of $11,932,256.50. Following the sale, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,736,767.25. The trade was a 87.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Coleman sold 643 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $249.00, for a total transaction of $160,107.00. Following the completion of the sale, the director directly owned 30,389 shares of the company’s stock, valued at approximately $7,566,861. This represents a 2.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 163,352 shares of company stock valued at $38,598,262. Corporate insiders own 20.60% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Street Advisors Inc. NC bought a new position in Axsome Therapeutics during the 4th quarter worth approximately $1,826,000. Pictet Asset Management Holding SA increased its stake in Axsome Therapeutics by 20.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 436,063 shares of the company’s stock valued at $79,643,000 after purchasing an additional 73,925 shares in the last quarter. Norges Bank acquired a new stake in Axsome Therapeutics in the fourth quarter worth $90,490,000. Axiom Investors LLC DE raised its holdings in Axsome Therapeutics by 28.7% in 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. Finally, JPMorgan Chase & Co. boosted its position in shares of 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 in the last quarter. Institutional investors own 81.49% of the company’s stock.

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.