Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives $216.12 Average PT from Brokerages

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have earned an average rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating and seventeen have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $216.1176.

A number of brokerages have recently issued reports on AXSM. Piper Sandler raised their price objective on Axsome Therapeutics from $148.00 to $223.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Royal Bank Of Canada boosted their target price on Axsome Therapeutics from $219.00 to $222.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. TD Cowen restated a “buy” rating on shares of Axsome Therapeutics in a report on Monday, February 23rd. Guggenheim raised their price target on Axsome Therapeutics from $205.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Wednesday, January 21st.

Axsome Therapeutics Trading Down 2.0%

Shares of AXSM opened at $157.87 on Monday. Axsome Therapeutics has a fifty-two week low of $86.99 and a fifty-two week high of $191.50. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of -42.78 and a beta of 0.43. The firm has a 50 day moving average price of $175.18 and a 200-day moving average price of $150.49. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.48 and a current ratio of 1.55.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, February 23rd. The company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.14. The company had revenue of $196.00 million for the quarter, compared to analyst estimates of $191.33 million. Axsome Therapeutics had a negative net margin of 28.69% and a negative return on equity of 232.61%. The business’s quarterly revenue was up 65.0% on a year-over-year basis. As a group, equities research analysts forecast that Axsome Therapeutics will post -2.79 earnings per share for the current year.

Insider Activity

In other news, insider Ari Maizel sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $184.44, for a total value of $1,383,300.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Nick Pizzie sold 12,000 shares of Axsome Therapeutics stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $187.92, for a total transaction of $2,255,040.00. Following the completion of the transaction, the chief financial officer directly owned 42,588 shares in the company, valued at approximately $8,003,136.96. The trade was a 21.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 289,279 shares of company stock valued at $49,496,963. Corporate insiders own 22.30% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. raised its stake in shares of Axsome Therapeutics by 29.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 7,453 shares of the company’s stock valued at $1,361,000 after acquiring an additional 1,716 shares during the last quarter. SHP Wealth Management bought a new stake in shares of Axsome Therapeutics in the fourth quarter worth about $172,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Axsome Therapeutics in the fourth quarter worth about $76,000. Seven Fleet Capital Management LP purchased a new position in Axsome Therapeutics during the 4th quarter valued at about $2,366,000. Finally, Virtu Financial LLC purchased a new position in Axsome Therapeutics during the 4th quarter valued at about $2,844,000. Institutional investors own 81.49% of the company’s stock.

About Axsome Therapeutics

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.