HC Wainwright Reaffirms Buy Rating for Axsome Therapeutics (NASDAQ:AXSM)

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $290.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 16.11% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Piper Sandler reiterated an “overweight” rating and set a $258.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft set a $280.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, May 5th. Mizuho increased their price target on shares of Axsome Therapeutics from $228.00 to $310.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Wells Fargo & Company lifted their price target on Axsome Therapeutics from $225.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Finally, Guggenheim upped their price objective on Axsome Therapeutics from $245.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $259.05.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $249.76 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. Axsome Therapeutics has a fifty-two week low of $96.09 and a fifty-two week high of $260.19. The business has a 50 day moving average price of $233.36 and a two-hundred day moving average price of $193.80. The firm has a market cap of $12.85 billion, a PE ratio of -66.96 and a beta of 0.60.

Axsome Therapeutics (NASDAQ:AXSM) last released 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). The business had revenue of $191.20 million for the quarter, compared to analysts’ expectations of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The company’s quarterly revenue was up 57.4% on a year-over-year basis. Sell-side analysts expect that Axsome Therapeutics will post -2.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Herriot Tabuteau sold 49,670 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $241.01, for a total value of $11,970,966.70. Following the sale, the chief executive officer directly owned 7,229 shares in the company, valued at $1,742,261.29. This trade represents a 87.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Coleman sold 6,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $230.30, for a total value of $1,381,800.00. Following the transaction, the director directly owned 35,140 shares in the company, valued at $8,092,742. This trade represents a 14.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 163,352 shares of company stock worth $38,598,262. 20.60% of the stock is owned by company insiders.

Institutional Trading of Axsome Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in shares of Axsome Therapeutics by 14.9% during the second quarter. GAMMA Investing LLC now owns 347 shares of the company’s stock valued at $85,000 after acquiring an additional 45 shares during the period. Birchview Capital LP boosted its stake in Axsome Therapeutics by 1.0% during the 4th quarter. Birchview Capital LP now owns 6,061 shares of the company’s stock valued at $1,107,000 after purchasing an additional 61 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Axsome Therapeutics by 3.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company’s stock valued at $351,000 after purchasing an additional 65 shares in the last quarter. Xponance LLC increased its position in shares of Axsome Therapeutics by 2.4% during the 4th quarter. Xponance LLC now owns 3,265 shares of the company’s stock valued at $596,000 after purchasing an additional 76 shares during the period. Finally, Assetmark Inc. raised its stake in shares of Axsome Therapeutics by 7.2% in the 1st quarter. Assetmark Inc. now owns 1,182 shares of the company’s stock worth $200,000 after buying an additional 79 shares in the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

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.