Axsome Therapeutics’ (AXSM) Buy Rating Reaffirmed at HC Wainwright

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $200.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 63.71% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Bank of America lifted their price target on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Truist Financial lifted their price target on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft began coverage on shares of Axsome Therapeutics in a research report on Tuesday, February 11th. They issued a “buy” rating and a $176.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $153.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, February 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $153.00 target price on shares of Axsome Therapeutics in a research report on Monday, March 3rd. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.36.

Axsome Therapeutics Price Performance

NASDAQ AXSM opened at $122.17 on Thursday. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. The stock has a market capitalization of $5.96 billion, a PE ratio of -20.40 and a beta of 0.99. The company has a 50 day moving average price of $108.78 and a two-hundred day moving average price of $97.69. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The company had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. As a group, equities analysts predict that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 22.40% of the stock is owned by corporate insiders.

Institutional Trading of Axsome Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in Axsome Therapeutics by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock worth $19,062,000 after purchasing an additional 27,534 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in Axsome Therapeutics during the 4th quarter worth about $2,599,000. PDT Partners LLC bought a new stake in Axsome Therapeutics during the 3rd quarter worth about $1,052,000. Pallas Capital Advisors LLC bought a new stake in shares of Axsome Therapeutics in the 4th quarter valued at about $2,237,000. Finally, Captrust Financial Advisors bought a new stake in shares of Axsome Therapeutics in the 3rd quarter valued at about $514,000. 81.49% of the stock is owned by 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.