Axsome Therapeutics, Inc. (NASDAQ:AXSM) Stock Has Consensus Target Price of $275.84

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has earned a consensus rating of “Moderate Buy” from the twenty-one analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $275.84.

A number of equities research analysts recently issued reports on AXSM shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Friday, July 17th. Zacks Research upgraded shares of Axsome Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Morgan Stanley decreased their price objective on shares of Axsome Therapeutics from $251.00 to $247.00 and set an “equal weight” rating on the stock in a report on Friday, September 25th. UBS Group reiterated a “buy” rating on shares of Axsome Therapeutics in a research report on Monday, August 24th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Axsome Therapeutics from $280.00 to $267.00 and set a “buy” rating for the company in a research note on Tuesday, September 29th.

Insider Activity

In related news, CEO Herriot Tabuteau sold 4,660 shares of Axsome Therapeutics stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $213.95, for a total value of $997,007.00. Following the sale, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,546,644.55. The trade was a 39.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Mark Jacobson sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $208.65, for a total value of $2,086,500.00. Following the sale, the chief operating officer owned 10,000 shares of the company’s stock, valued at approximately $2,086,500. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 59,664 shares of company stock worth $12,624,805. 20.60% of the stock is currently owned by insiders.

Institutional Trading of Axsome Therapeutics

Large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Axsome Therapeutics in the second quarter valued at about $759,695,000. First Trust Advisors LP boosted its position in shares of Axsome Therapeutics by 1,230.2% during the 1st quarter. First Trust Advisors LP now owns 577,479 shares of the company’s stock valued at $97,606,000 after acquiring an additional 534,066 shares during the last quarter. Norges Bank acquired a new position in Axsome Therapeutics in the 4th quarter valued at about $90,490,000. Bank of America Corp DE purchased a new position in Axsome Therapeutics in the second quarter worth approximately $110,756,000. Finally, Assenagon Asset Management S.A. increased its stake in Axsome Therapeutics by 85.0% during the first quarter. Assenagon Asset Management S.A. now owns 865,958 shares of the company’s stock worth $146,364,000 after acquiring an additional 397,976 shares during the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM opened at $179.25 on Friday. The company’s fifty day moving average price is $208.73 and its 200 day moving average price is $212.45. Axsome Therapeutics has a 1 year low of $117.30 and a 1 year high of $260.19. The company has a market capitalization of $9.39 billion, a PE ratio of -47.80 and a beta of 0.86. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.10). The firm had revenue of $218.38 million for the quarter, compared to analyst estimates of $221.11 million. Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. On average, research analysts predict that Axsome Therapeutics will post -2.92 earnings per share for the current year.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. The company uses differentiated product candidates and targeted mechanisms to address conditions with significant unmet medical needs, including depression, sleep disorders, migraine, and other neurological or psychiatric diseases.

Axsome’s lead commercial product is Auvelity (dextromethorphan hydrobromide and bupropion hydrochloride), an oral medicine approved in the United States for the treatment of major depressive disorder in adults.