Axsome Therapeutics, Inc. (NASDAQ:AXSM) Given Average Rating of “Moderate Buy” by Analysts

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have been given a consensus recommendation of “Moderate Buy” by the twenty-two brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $267.60.

A number of research analysts recently weighed in on AXSM shares. Zacks Research upgraded shares of Axsome Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Royal Bank Of Canada dropped their target price on Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. Wells Fargo & Company raised their price target on Axsome Therapeutics from $255.00 to $256.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. TD Cowen lifted their price target on Axsome Therapeutics from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Finally, Truist Financial upgraded Axsome Therapeutics to a “strong-buy” rating in a research note on Monday, June 15th.

Insiders Place Their Bets

In related news, CEO Herriot Tabuteau sold 49,666 shares of the stock in a transaction on 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 sale, the chief executive officer owned 7,229 shares in the company, valued at approximately $1,736,767.25. This trade represents a 87.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Mark L. Jacobson sold 10,000 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $208.65, for a total value of $2,086,500.00. Following the completion of the sale, the chief operating officer owned 10,000 shares in the company, valued at $2,086,500. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 109,330 shares of company stock valued at $24,557,062 over the last 90 days. Company insiders own 20.60% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Kemnay Advisory Services Inc. bought a new position in shares of Axsome Therapeutics in the 4th quarter worth $31,000. Hollencrest Capital Management grew its position in 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 acquiring an additional 160 shares in the last quarter. Ameriflex Group Inc. bought a new position in Axsome Therapeutics in the fourth quarter valued at $37,000. Advisory Services Network LLC bought a new position in Axsome Therapeutics in the third quarter valued at $40,000. Finally, ABS Direct Equity Fund LLC bought a new position in Axsome Therapeutics in the second quarter valued at $60,000. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Trading Up 4.6%

Shares of Axsome Therapeutics stock opened at $220.75 on Monday. The stock has a market capitalization of $11.56 billion, a P/E ratio of -58.87 and a beta of 0.71. Axsome Therapeutics has a 52-week low of $112.90 and a 52-week high of $260.19. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43. The stock’s 50-day simple moving average is $220.65 and its 200 day simple moving average is $208.44.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Monday, August 10th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%.The business had revenue of $218.38 million for the quarter, compared to the consensus estimate of $221.11 million. As a group, research analysts anticipate that Axsome Therapeutics will post -2.8 EPS for the current year.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. The company’s research programs address conditions with substantial unmet medical needs, including depression, migraine, narcolepsy, excessive daytime sleepiness, agitation associated with Alzheimer’s disease, and other neurological or psychiatric disorders.

Axsome’s commercial portfolio includes Auvelity, an oral medicine approved in the United States for the treatment of major depressive disorder in adults.