Axsome Therapeutics (NASDAQ:AXSM) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Axsome Therapeutics (NASDAQ:AXSM) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

A number of other brokerages have also recently commented on AXSM. Bank of America upgraded shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and increased their price target for the company from $95.00 to $106.00 in a research report on Tuesday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a research report on Monday, September 16th. HC Wainwright reissued a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Royal Bank of Canada increased their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $124.93.

Axsome Therapeutics Trading Up 0.5 %

Shares of Axsome Therapeutics stock opened at $98.68 on Wednesday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The stock has a market capitalization of $4.78 billion, a P/E ratio of -15.04 and a beta of 1.26. Axsome Therapeutics has a 52-week low of $60.28 and a 52-week high of $105.00. The stock’s 50-day simple moving average is $90.89 and its 200 day simple moving average is $84.85.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, topping the consensus estimate of ($1.38) by $0.04. The firm had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter in the prior year, the firm posted ($1.32) earnings per share. As a group, research analysts anticipate that Axsome Therapeutics will post -4.75 EPS for the current year.

Insiders Place Their Bets

In other news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value of $1,005,870.96. Following the sale, the director now directly owns 10,002 shares of the company’s stock, valued at $913,282.62. The trade was a 52.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 22.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AXSM. Natixis increased its position in shares of Axsome Therapeutics by 13.6% during the 1st quarter. Natixis now owns 1,235 shares of the company’s stock valued at $99,000 after purchasing an additional 148 shares during the last quarter. Arizona State Retirement System grew its position in shares of Axsome Therapeutics by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock valued at $695,000 after acquiring an additional 177 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Axsome Therapeutics by 22.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after acquiring an additional 318 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Axsome Therapeutics in the 2nd quarter worth $27,000. Finally, WCM Investment Management LLC raised its holdings in Axsome Therapeutics by 0.3% in the 3rd quarter. WCM Investment Management LLC now owns 113,692 shares of the company’s stock worth $10,191,000 after purchasing an additional 347 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

About Axsome Therapeutics

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.