Axsome Therapeutics, Inc. (NASDAQ:AXSM) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have been assigned an average recommendation of “Moderate Buy” from the twenty-one analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, nineteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $259.05.

A number of research analysts recently issued reports on AXSM shares. Truist Financial upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a research note on Monday, June 15th. UBS Group raised their price objective on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a report on Friday, April 10th. Deutsche Bank Aktiengesellschaft set a $280.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, May 5th. HC Wainwright reiterated a “buy” rating and set a $290.00 target price on shares of Axsome Therapeutics in a research note on Wednesday. Finally, TD Cowen increased their target price on Axsome Therapeutics from $275.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, June 17th.

Axsome Therapeutics Trading Down 3.0%

AXSM opened at $230.00 on Friday. The business has a fifty day moving average price of $238.35 and a 200 day moving average price of $198.24. 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 12 month low of $96.09 and a 12 month high of $260.19. The stock has a market capitalization of $11.84 billion, a price-to-earnings ratio of -61.66 and a beta of 0.60.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly 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 company had revenue of $191.20 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 57.4% on a year-over-year basis. Sell-side analysts expect that Axsome Therapeutics will post -2.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In related news, insider Ari Maizel sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $182.42, for a total transaction of $1,368,150.00. Following the completion of the sale, the insider owned 7,500 shares in the company, valued at $1,368,150. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Coleman sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $230.30, for a total value of $1,381,800.00. Following the completion of the transaction, the director directly owned 35,140 shares of the company’s stock, valued at $8,092,742. This trade represents a 14.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 163,352 shares of company stock worth $38,598,262. Corporate insiders own 20.60% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Several institutional investors have recently modified their holdings of the stock. Franklin Street Advisors Inc. NC purchased a new position in shares of Axsome Therapeutics in the 4th quarter valued at $1,826,000. Pictet Asset Management Holding SA raised its stake in Axsome Therapeutics by 20.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 436,063 shares of the company’s stock worth $79,643,000 after acquiring an additional 73,925 shares in the last quarter. Norges Bank purchased a new stake in Axsome Therapeutics in the fourth quarter valued at $90,490,000. Axiom Investors LLC DE lifted its position in Axsome Therapeutics by 28.7% in the fourth quarter. Axiom Investors LLC DE now owns 63,390 shares of the company’s stock valued at $11,578,000 after acquiring an additional 14,137 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Axsome Therapeutics by 42.6% in the third quarter. JPMorgan Chase & Co. now owns 250,513 shares of the company’s stock valued at $30,425,000 after acquiring an additional 74,885 shares in the last quarter. Hedge funds and other 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.