Cantor Fitzgerald Reaffirms Overweight Rating for Axsome Therapeutics (NASDAQ:AXSM)

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a research note issued on Wednesday,Benzinga reports. They currently have a $153.00 price objective on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 20.08% from the company’s previous close.

Several other research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft started coverage on Axsome Therapeutics in a research note on Tuesday, February 11th. They issued a “buy” rating and a $176.00 price target on the stock. Robert W. Baird boosted their price objective on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Leerink Partners boosted their price objective on Axsome Therapeutics from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, February 10th. William Blair reissued an “outperform” rating on shares of Axsome Therapeutics in a report on Tuesday. Finally, Bank of America upped their target price on Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $154.13.

Axsome Therapeutics Price Performance

Shares of AXSM traded down $0.68 during mid-day trading on Wednesday, hitting $127.42. The company’s stock had a trading volume of 134,539 shares, compared to its average volume of 1,078,651. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The firm has a 50-day simple moving average of $98.47 and a 200 day simple moving average of $93.68. The firm has a market capitalization of $6.17 billion, a P/E ratio of -19.51 and a beta of 1.05. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $134.18.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.01. The company 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 158.36% and a negative net margin of 91.87%. Analysts predict that Axsome Therapeutics will post -4.59 EPS for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total value 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. This trade represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Hedge funds have recently made changes to their positions in the stock. Raiffeisen Bank International AG bought a new stake in shares of Axsome Therapeutics in the fourth quarter valued at about $51,000. Assetmark Inc. bought a new position in Axsome Therapeutics during the fourth quarter worth about $52,000. R Squared Ltd bought a new position in Axsome Therapeutics during the fourth quarter worth about $64,000. Aquatic Capital Management LLC bought a new position in Axsome Therapeutics during the fourth quarter worth about $76,000. Finally, GF Fund Management CO. LTD. bought a new position in Axsome Therapeutics during the fourth quarter worth about $86,000. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

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.