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

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $119.67.

A number of brokerages recently weighed in on AXSM. Mizuho raised their price target on shares of Axsome Therapeutics from $108.00 to $109.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. HC Wainwright reiterated a “buy” rating and set a $190.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, April 2nd. Truist Financial reiterated a “buy” rating and set a $150.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, March 26th. Robert W. Baird initiated coverage on Axsome Therapeutics in a research note on Tuesday, March 19th. They set an “outperform” rating and a $108.00 target price for the company. Finally, Citigroup upped their price objective on Axsome Therapeutics from $125.00 to $127.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th.

Insider Buying and Selling

In related news, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the completion of the transaction, the director now directly owns 120,756 shares of the company’s stock, valued at $8,416,693.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Axsome Therapeutics news, Director Roger Jeffs sold 29,976 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the completion of the transaction, the director now directly owns 120,756 shares in the company, valued at approximately $8,416,693.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mark L. Jacobson sold 24,662 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $77.24, for a total transaction of $1,904,892.88. The disclosure for this sale can be found here. Insiders own 24.50% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

A number of large investors have recently bought and sold shares of the stock. RTW Investments LP grew its holdings in shares of Axsome Therapeutics by 4.8% during the third quarter. RTW Investments LP now owns 4,489,596 shares of the company’s stock worth $313,778,000 after buying an additional 205,319 shares in the last quarter. Vanguard Group Inc. grew its stake in Axsome Therapeutics by 11.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,111,500 shares of the company’s stock worth $138,835,000 after acquiring an additional 309,362 shares during the period. BlackRock Inc. raised its holdings in Axsome Therapeutics by 10.3% in the 2nd quarter. BlackRock Inc. now owns 2,723,543 shares of the company’s stock valued at $195,714,000 after acquiring an additional 255,319 shares during the last quarter. Perceptive Advisors LLC raised its holdings in Axsome Therapeutics by 115.5% in the 4th quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock valued at $82,616,000 after acquiring an additional 556,370 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Axsome Therapeutics by 22.0% during the 2nd quarter. State Street Corp now owns 852,983 shares of the company’s stock worth $32,669,000 after purchasing an additional 153,977 shares during the period. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Trading Up 3.3 %

Shares of NASDAQ:AXSM opened at $67.90 on Monday. The business’s 50 day moving average price is $78.09 and its 200-day moving average price is $75.03. Axsome Therapeutics has a 1 year low of $55.02 and a 1 year high of $98.40. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of -12.91 and a beta of 1.13. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.63 and a quick ratio of 3.52.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.21) by $0.48. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. The business had revenue of $71.53 million for the quarter, compared to the consensus estimate of $70.38 million. On average, equities research analysts forecast that Axsome Therapeutics will post -3.85 earnings per share for the current fiscal year.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company's commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.