Axsome Therapeutics (NASDAQ:AXSM) Upgraded at StockNews.com

Axsome Therapeutics (NASDAQ:AXSM) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Several other analysts have also recently commented on the company. Bank of America upgraded Axsome Therapeutics from a “neutral” rating to a “buy” rating and raised their target price for the company from $95.00 to $106.00 in a research report on Tuesday, August 6th. Royal Bank of Canada raised their price target on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a report on Monday, September 16th. Wells Fargo & Company initiated coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 target price on the stock. Finally, Robert W. Baird boosted their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $124.93.

Axsome Therapeutics Stock Up 3.3 %

Shares of NASDAQ AXSM opened at $95.46 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. Axsome Therapeutics has a 1 year low of $58.61 and a 1 year high of $105.00. The stock’s 50-day simple moving average is $90.63 and its 200-day simple moving average is $84.54. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of -14.62 and a beta of 1.26.

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

Insider Activity

In other news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the sale, the director now owns 10,002 shares in the company, valued at $913,282.62. This represents a 52.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 22.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Axsome Therapeutics during the 2nd quarter valued at about $27,000. EntryPoint Capital LLC purchased a new stake in Axsome Therapeutics during the 1st quarter valued at about $35,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Axsome Therapeutics during the second quarter valued at approximately $47,000. Russell Investments Group Ltd. raised its stake in shares of Axsome Therapeutics by 5,550.0% in the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after purchasing an additional 777 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Axsome Therapeutics by 54,750.0% during the 1st quarter. Covestor Ltd now owns 1,097 shares of the company’s stock valued at $88,000 after acquiring an additional 1,095 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.