Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives $179.88 Consensus Target Price from Analysts

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has been given a consensus recommendation of “Moderate Buy” by the eighteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $179.8750.

AXSM has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $154.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, November 4th. Mizuho upped their price objective on Axsome Therapeutics from $200.00 to $202.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. B. Riley assumed coverage on shares of Axsome Therapeutics in a research note on Wednesday, October 1st. They issued a “buy” rating and a $179.00 target price for the company. Royal Bank Of Canada raised their price target on Axsome Therapeutics from $189.00 to $198.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Finally, HC Wainwright raised their target price on shares of Axsome Therapeutics from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th.

Insiders Place Their Bets

In other news, CEO Herriot Tabuteau sold 91,705 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $132.34, for a total transaction of $12,136,239.70. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at $956,685.86. This represents a 92.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mark L. Jacobson sold 45,783 shares of Axsome Therapeutics stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $114.48, for a total value of $5,241,237.84. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 407,959 shares of company stock valued at $52,645,040. Company insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its position in shares of Axsome Therapeutics by 55.4% in the second quarter. Bank of New York Mellon Corp now owns 203,632 shares of the company’s stock valued at $21,257,000 after purchasing an additional 72,609 shares during the period. Swiss National Bank grew its stake in Axsome Therapeutics by 6.9% in the 2nd quarter. Swiss National Bank now owns 65,200 shares of the company’s stock valued at $6,806,000 after buying an additional 4,200 shares during the last quarter. Nuveen LLC bought a new position in Axsome Therapeutics in the 1st quarter valued at about $48,185,000. Jump Financial LLC acquired a new stake in Axsome Therapeutics during the first quarter worth approximately $10,805,000. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of Axsome Therapeutics by 154.5% during the second quarter. Los Angeles Capital Management LLC now owns 4,424 shares of the company’s stock worth $462,000 after acquiring an additional 2,686 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Stock Down 1.1%

AXSM opened at $147.56 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.50 and a current ratio of 1.57. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of -31.60 and a beta of 0.47. Axsome Therapeutics has a twelve month low of $75.56 and a twelve month high of $152.94. The firm’s 50-day simple moving average is $135.57 and its 200-day simple moving average is $119.27.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). Axsome Therapeutics had a negative net margin of 40.90% and a negative return on equity of 277.31%. The firm had revenue of $170.99 million during the quarter, compared to the consensus estimate of $162.96 million. The company’s quarterly revenue was up 63.2% compared to the same quarter last year. Equities research analysts anticipate that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.

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.