Axsome Therapeutics (NASDAQ:AXSM) Earns Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a report issued on Thursday morning,Benzinga reports. They currently have a $200.00 price objective on the stock.

AXSM has been the topic of a number of other reports. Robert W. Baird increased their price target on shares of Axsome Therapeutics from $132.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Truist Financial lifted their target price on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Morgan Stanley upped their price target on Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Mizuho raised their price target on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the stock an “outperform” rating in a report on Thursday, March 27th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $153.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, February 19th. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Axsome Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $167.64.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock opened at $98.86 on Thursday. The company has a 50 day moving average price of $120.62 and a 200 day moving average price of $101.75. The firm has a market capitalization of $4.82 billion, a P/E ratio of -16.50 and a beta of 0.88. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $139.13. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. The firm had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. Sell-side analysts expect that Axsome Therapeutics will post -2.79 EPS for the current year.

Insider Activity at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were 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 owns 42,187 shares in the company, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 22.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of AXSM. 111 Capital purchased a new stake in Axsome Therapeutics in the fourth quarter valued at $278,000. TFG Asset Management GP Ltd acquired a new stake in shares of Axsome Therapeutics during the fourth quarter worth about $3,490,000. GF Fund Management CO. LTD. purchased a new stake in shares of Axsome Therapeutics in the 4th quarter valued at about $86,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new stake in shares of Axsome Therapeutics in the 4th quarter valued at about $2,853,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Axsome Therapeutics by 20.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,642 shares of the company’s stock valued at $4,877,000 after purchasing an additional 9,928 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.