Axsome Therapeutics (NASDAQ:AXSM) Upgraded at BMO Capital Markets

Axsome Therapeutics (NASDAQ:AXSM) was upgraded by investment analysts at BMO Capital Markets to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also commented on AXSM. Royal Bank Of Canada boosted their price target on shares of Axsome Therapeutics from $302.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 target price on shares of Axsome Therapeutics in a report on Thursday, June 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a report on Friday. Morgan Stanley raised Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a research report on Thursday, June 11th. Finally, Guggenheim upped their target price on shares of Axsome Therapeutics from $245.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $261.48.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $236.95 on Monday. The firm has a market capitalization of $12.19 billion, a P/E ratio of -63.53 and a beta of 0.60. The firm’s 50-day moving average price is $238.71 and its 200-day moving average price is $199.47. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.27. Axsome Therapeutics has a 1-year low of $96.09 and a 1-year high of $260.19.

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

Insider Activity

In other news, CFO Nick Pizzie sold 33,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total value of $7,922,970.00. Following the sale, the chief financial officer directly owned 42,867 shares of the company’s stock, valued at approximately $10,291,938.03. This represents a 43.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Susan Mahony sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $237.21, for a total transaction of $71,163.00. Following the completion of the transaction, the director owned 1,129 shares of the company’s stock, valued at $267,810.09. This trade represents a 20.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 155,852 shares of company stock valued at $37,230,112. 20.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in shares of Axsome Therapeutics by 45.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock valued at $275,763,000 after purchasing an additional 472,422 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Axsome Therapeutics by 84.1% in the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock worth $162,082,000 after buying an additional 609,516 shares in the last quarter. Invesco Ltd. boosted its stake in Axsome Therapeutics by 28.6% during the fourth quarter. Invesco Ltd. now owns 1,273,494 shares of the company’s stock valued at $232,591,000 after buying an additional 282,937 shares during the period. Geode Capital Management LLC boosted its stake in Axsome Therapeutics by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company’s stock valued at $184,544,000 after buying an additional 12,549 shares during the period. Finally, State Street Corp grew its position in Axsome Therapeutics by 5.8% during the second quarter. State Street Corp now owns 958,503 shares of the company’s stock worth $100,058,000 after buying an additional 52,483 shares in the last quarter. 81.49% of the stock is owned by institutional investors.

Axsome Therapeutics Company Profile

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.