Axsome Therapeutics (NASDAQ:AXSM) Given Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a report released on Thursday,Benzinga reports. HC Wainwright currently has a $180.00 price target on the stock.

Several other research firms also recently weighed in on AXSM. Jefferies Financial Group started coverage on Axsome Therapeutics in a report on Monday, April 7th. They issued a “buy” rating and a $200.00 price objective for the company. Bank of America upped their price target on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Needham & Company LLC reiterated a “buy” rating and set a $153.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, April 1st. Royal Bank of Canada boosted their price objective on shares of Axsome Therapeutics from $190.00 to $193.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Axsome Therapeutics in a research report on Tuesday, February 11th. They set a “buy” rating and a $176.00 target price on the stock. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $172.14.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM opened at $104.35 on Thursday. The firm’s 50 day simple moving average is $109.25 and its 200-day simple moving average is $105.57. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. Axsome Therapeutics has a one year low of $64.11 and a one year high of $139.13. The firm has a market cap of $5.14 billion, a PE ratio of -17.42 and a beta of 0.46.

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

Insider Buying and Selling

In other Axsome Therapeutics news, Director Mark Coleman sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $107.49, for a total value of $322,470.00. Following the completion of the sale, the director now owns 54,137 shares of the company’s stock, valued at approximately $5,819,186.13. This trade represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds have recently modified their holdings of AXSM. Strategic Financial Concepts LLC purchased a new stake in Axsome Therapeutics during the 4th quarter worth approximately $2,599,000. Intech Investment Management LLC lifted its stake in shares of Axsome Therapeutics by 46.5% during the fourth quarter. Intech Investment Management LLC now owns 16,028 shares of the company’s stock worth $1,356,000 after buying an additional 5,087 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Axsome Therapeutics during the fourth quarter valued at $14,771,000. Charles Schwab Investment Management Inc. increased its position in shares of Axsome Therapeutics by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company’s stock valued at $27,755,000 after acquiring an additional 5,438 shares during the period. Finally, Aigen Investment Management LP purchased a new position in Axsome Therapeutics in the 4th quarter worth $395,000. Institutional investors and hedge funds 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.