HC Wainwright Reiterates “Buy” Rating for Axsome Therapeutics (NASDAQ:AXSM)

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research report issued on Tuesday, Benzinga reports. They presently have a $190.00 price objective on the stock. HC Wainwright’s target price points to a potential upside of 150.20% from the company’s previous close.

Several other equities analysts have also recently weighed in on AXSM. Mizuho raised their target price 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. Truist Financial restated a “buy” rating and set a $150.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, March 26th. Morgan Stanley upgraded Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $90.00 to $115.00 in a report on Monday, April 29th. Robert W. Baird lifted their target price on Axsome Therapeutics from $108.00 to $112.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Piper Sandler increased their price target on Axsome Therapeutics from $90.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $122.33.

Axsome Therapeutics Price Performance

Shares of AXSM opened at $75.94 on Tuesday. The company has a 50 day moving average of $74.28 and a 200-day moving average of $75.64. The company has a quick ratio of 3.52, a current ratio of 3.63 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $3.61 billion, a P/E ratio of -14.60 and a beta of 1.13. Axsome Therapeutics has a twelve month low of $55.02 and a twelve month high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, February 20th. The company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $70.38 million. As a group, equities research analysts forecast that Axsome Therapeutics will post -3.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Roger Jeffs sold 29,976 shares of the firm’s 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 transaction, the director now owns 120,756 shares in the company, valued at approximately $8,416,693.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Roger Jeffs sold 29,976 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Mark L. Jacobson sold 24,662 shares of Axsome Therapeutics stock in a transaction that occurred on 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. Company insiders own 24.50% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Several large investors have recently bought and sold shares of AXSM. SG Americas Securities LLC raised its stake in Axsome Therapeutics by 605.5% during the first quarter. SG Americas Securities LLC now owns 15,104 shares of the company’s stock worth $1,205,000 after acquiring an additional 12,963 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of Axsome Therapeutics by 20.4% during the 1st quarter. Mutual of America Capital Management LLC now owns 41,620 shares of the company’s stock valued at $3,321,000 after purchasing an additional 7,042 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Axsome Therapeutics by 9.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 5,780 shares of the company’s stock worth $461,000 after purchasing an additional 500 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Axsome Therapeutics by 323.8% in the 1st quarter. BNP Paribas Financial Markets now owns 82,544 shares of the company’s stock valued at $6,587,000 after purchasing an additional 63,067 shares during the last quarter. Finally, Oak Ridge Investments LLC boosted its position in Axsome Therapeutics by 2.7% in the first quarter. Oak Ridge Investments LLC now owns 15,930 shares of the company’s stock valued at $1,271,000 after buying an additional 413 shares in the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

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.