Axsome Therapeutics (NASDAQ:AXSM) Rating Lowered to “Strong Sell” at Zacks Research

Axsome Therapeutics (NASDAQ:AXSM) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research firms have also recently commented on AXSM. UBS Group increased their price objective on Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a research report on Friday, April 10th. Mizuho upped their target price on shares of Axsome Therapeutics from $228.00 to $310.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Wells Fargo & Company lifted their price target on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Truist Financial upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Finally, Morgan Stanley raised shares of Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a research report on Thursday, June 11th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $261.48.

Axsome Therapeutics Price Performance

AXSM opened at $236.95 on Monday. The firm has a market cap of $12.19 billion, a PE ratio of -63.53 and a beta of 0.60. The stock has a 50-day moving average price of $238.71 and a 200-day moving average price of $199.47. Axsome Therapeutics has a 1 year low of $96.09 and a 1 year high of $260.19. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). The firm had revenue of $191.20 million for the quarter, compared to the consensus estimate of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The business’s quarterly revenue was up 57.4% on a year-over-year basis. Sell-side analysts predict that Axsome Therapeutics will post -2.45 earnings per share for the current fiscal year.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 49,666 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $240.25, for a total value of $11,932,256.50. Following the completion of the sale, the chief executive officer owned 7,229 shares in the company, valued at $1,736,767.25. This represents a 87.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Roger Jeffs sold 286 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $246.18, for a total value of $70,407.48. Following the completion of the transaction, the director directly owned 58,653 shares in the company, valued at $14,439,195.54. This trade represents a 0.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 155,852 shares of company stock worth $37,230,112 over the last three months. 20.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. purchased a new position in Axsome Therapeutics during the fourth quarter valued at approximately $31,000. Hollencrest Capital Management increased its stake in shares of Axsome Therapeutics by 400.0% in the first quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock worth $34,000 after purchasing an additional 160 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Axsome Therapeutics in the fourth quarter worth $37,000. GAMMA Investing LLC raised its position in shares of Axsome Therapeutics by 65.4% during the 4th quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock valued at $49,000 after purchasing an additional 106 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of Axsome Therapeutics by 602.6% during the 4th quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock valued at $50,000 after purchasing an additional 235 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

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.