Axsome Therapeutics, Inc. (NASDAQ:AXSM) Given Consensus Recommendation of “Buy” by Analysts

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has received a consensus recommendation of “Buy” from the fourteen ratings firms that are presently covering the company, MarketBeat.com reports. Fourteen equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued a report on the stock in the last year is $124.93.

A number of equities research analysts recently issued reports on the company. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Bank of America upgraded Axsome Therapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $95.00 to $106.00 in a research report on Tuesday, August 6th. HC Wainwright restated a “buy” rating and issued a $180.00 price target on shares of Axsome Therapeutics in a report on Monday. Royal Bank of Canada lifted their price objective on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $130.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, November 12th.

Axsome Therapeutics Trading Down 1.2 %

Shares of AXSM opened at $97.50 on Tuesday. The company’s fifty day simple moving average is $90.99 and its 200-day simple moving average is $85.13. The company has a market cap of $4.72 billion, a P/E ratio of -14.93 and a beta of 1.26. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. Axsome Therapeutics has a twelve month low of $61.14 and a twelve month high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. The company had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same period in the prior year, the company posted ($1.32) EPS. As a group, analysts expect that Axsome Therapeutics will post -4.75 EPS for the current year.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the sale, the director now owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. The trade was a 52.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Axsome Therapeutics in the 2nd quarter valued at $27,000. EntryPoint Capital LLC acquired a new position in shares of Axsome Therapeutics in the first quarter valued at about $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Axsome Therapeutics in the second quarter valued at about $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, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Axsome Therapeutics by 22.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after purchasing an additional 318 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.