Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives Consensus Rating of “Buy” from Analysts

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have received a consensus rating of “Buy” from the fourteen brokerages that are presently covering the company, MarketBeat.com reports. Fourteen investment analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $124.57.

A number of equities analysts have issued reports on the company. Mizuho reaffirmed a “buy” rating and issued a $106.00 target price on shares of Axsome Therapeutics in a research report on Wednesday, June 12th. Royal Bank of Canada cut their price target on shares of Axsome Therapeutics from $131.00 to $130.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. Needham & Company LLC reissued a “buy” rating and set a $130.00 price objective on shares of Axsome Therapeutics in a report on Thursday, September 5th. HC Wainwright restated a “buy” rating and issued a $180.00 target price on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Finally, StockNews.com downgraded Axsome Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $91.03 on Thursday. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.48 and a quick ratio of 2.40. The company’s fifty day moving average price is $86.24 and its two-hundred day moving average price is $78.96. The firm has a market capitalization of $4.32 billion, a P/E ratio of -14.27 and a beta of 1.25. Axsome Therapeutics has a 12 month low of $55.02 and a 12 month high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, August 5th. The company reported ($1.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.06. The business had revenue of $87.17 million for the quarter, compared to analyst estimates of $84.53 million. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. On average, research analysts anticipate that Axsome Therapeutics will post -4.72 earnings per share for the current fiscal year.

Insider Activity

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Mark L. Jacobson sold 47,739 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the transaction, the chief operating officer now directly owns 5,783 shares in the company, valued at $487,275.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark E. Saad sold 11,016 shares of the 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 completion of the transaction, the director now directly owns 10,002 shares of the company’s stock, valued at $913,282.62. The disclosure for this sale can be found here. Corporate insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Perceptive Advisors LLC boosted its holdings in shares of Axsome Therapeutics by 115.5% in the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock valued at $82,616,000 after acquiring an additional 556,370 shares in the last quarter. Sofinnova Investments Inc. acquired a new stake in Axsome Therapeutics in the second quarter worth approximately $24,971,000. Point72 Asset Management L.P. boosted its stake in Axsome Therapeutics by 57.4% during the 4th quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock valued at $66,633,000 after purchasing an additional 305,264 shares in the last quarter. Tri Locum Partners LP increased its position in shares of Axsome Therapeutics by 198.4% during the 2nd quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock valued at $24,674,000 after purchasing an additional 203,802 shares during the period. Finally, Norges Bank bought a new stake in shares of Axsome Therapeutics in the 4th quarter worth $15,530,000. Institutional investors and hedge funds 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.