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

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has received an average rating of “Moderate Buy” from the twenty-one brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, nineteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $258.95.

Several brokerages have issued reports on AXSM. Wells Fargo & Company boosted their target price on Axsome Therapeutics from $225.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. HC Wainwright restated a “buy” rating on shares of Axsome Therapeutics in a research report on Thursday, June 4th. Robert W. Baird boosted their target price on Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Truist Financial upgraded Axsome Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Finally, UBS Group boosted their target price on Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a research report on Friday, April 10th.

Axsome Therapeutics Trading Down 2.4%

AXSM opened at $241.97 on Wednesday. Axsome Therapeutics has a 12 month low of $96.09 and a 12 month high of $260.19. The stock has a 50-day moving average of $221.79 and a 200 day moving average of $187.13. The firm has a market cap of $12.45 billion, a P/E ratio of -64.87 and a beta of 0.61. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.27.

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

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 49,670 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $241.01, for a total transaction of $11,970,966.70. Following the completion of the transaction, the chief executive officer owned 7,229 shares in the company, valued at $1,742,261.29. The trade was a 87.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ari Maizel sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $182.42, for a total value of $1,368,150.00. Following the completion of the sale, the insider owned 7,500 shares of the company’s stock, valued at $1,368,150. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 113,686 shares of company stock valued at $26,666,006. 20.60% of the stock is owned by company insiders.

Institutional Trading of Axsome Therapeutics

A number of large investors have recently modified their holdings of AXSM. Vanguard Group Inc. raised its stake in Axsome Therapeutics by 6.0% in the third quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock worth $507,739,000 after buying an additional 235,626 shares in the last quarter. Franklin Street Advisors Inc. NC bought a new position in Axsome Therapeutics in the fourth quarter worth approximately $1,826,000. TD Asset Management Inc raised its stake in Axsome Therapeutics by 107.7% in the third quarter. TD Asset Management Inc now owns 44,192 shares of the company’s stock worth $5,367,000 after buying an additional 22,914 shares in the last quarter. Pictet Asset Management Holding SA raised 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 worth $79,643,000 after buying an additional 73,925 shares in the last quarter. Finally, JPMorgan Chase & Co. raised 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 worth $30,425,000 after buying an additional 74,885 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.