Axsome Therapeutics (NASDAQ:AXSM) Sets New 1-Year High – What’s Next?

Axsome Therapeutics, Inc. (NASDAQ:AXSM) shares hit a new 52-week high during trading on Friday . The company traded as high as $240.76 and last traded at $241.3280, with a volume of 279345 shares. The stock had previously closed at $231.48.

Wall Street Analysts Forecast Growth

AXSM has been the subject of a number of recent research reports. Oppenheimer set a $280.00 price objective on Axsome Therapeutics in a report on Monday, May 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $272.00 price objective on shares of Axsome Therapeutics in a report on Monday, May 4th. Morgan Stanley upped their target price on Axsome Therapeutics from $217.00 to $242.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Mizuho upped their target price on Axsome Therapeutics from $228.00 to $310.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Axsome Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $251.26.

Axsome Therapeutics Trading Up 0.6%

The company has a market capitalization of $11.99 billion, a P/E ratio of -62.45 and a beta of 0.61. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32. The firm has a fifty day moving average price of $201.25 and a 200-day moving average price of $178.04.

Axsome Therapeutics (NASDAQ:AXSM) last released 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). The business had revenue of $191.20 million during 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% compared to the same quarter last year. On average, equities research analysts anticipate that Axsome Therapeutics, Inc. will post -2.24 earnings per share for the current year.

Insider Activity at Axsome Therapeutics

In related news, Director Mark Coleman sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $230.30, for a total value of $1,381,800.00. Following the transaction, the director owned 35,140 shares in the company, valued at approximately $8,092,742. This represents a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ari Maizel sold 7,500 shares of the company’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 transaction, the insider owned 7,500 shares in the company, valued at approximately $1,368,150. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 29,787 shares of company stock worth $6,470,391. Insiders own 20.60% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors have recently bought and sold shares of the company. Kemnay Advisory Services Inc. purchased a new position in Axsome Therapeutics in the fourth quarter valued at approximately $31,000. Hollencrest Capital Management lifted its stake in Axsome Therapeutics by 400.0% in the first quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock valued at $34,000 after purchasing an additional 160 shares during the last quarter. Ameriflex Group Inc. purchased a new position in Axsome Therapeutics in the fourth quarter valued at approximately $37,000. GAMMA Investing LLC lifted its stake in Axsome Therapeutics by 65.4% in the fourth quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock valued at $49,000 after purchasing an additional 106 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Axsome Therapeutics by 602.6% in the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock valued at $50,000 after purchasing an additional 235 shares during 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.