Axsome Therapeutics (NASDAQ:AXSM) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Axsome Therapeutics (NASDAQ:AXSM) from a strong sell rating to a hold rating in a research note released on Tuesday,Zacks.com reports.

A number of other brokerages also recently issued reports on AXSM. Piper Sandler restated an “overweight” rating and set a $258.00 price target on shares of Axsome Therapeutics in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft set a $280.00 target price on Axsome Therapeutics in a research note on Tuesday, May 5th. Mizuho upped their target price on Axsome Therapeutics from $306.00 to $316.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. TD Cowen lifted their price target on shares of Axsome Therapeutics from $275.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $272.00 price objective on shares of Axsome Therapeutics in a research report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $267.60.

Axsome Therapeutics Stock Up 1.2%

Shares of Axsome Therapeutics stock opened at $218.20 on Tuesday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43. Axsome Therapeutics has a 52-week low of $111.54 and a 52-week high of $260.19. The stock has a market capitalization of $11.43 billion, a price-to-earnings ratio of -58.19 and a beta of 0.65. The company’s 50 day moving average price is $233.99 and its 200-day moving average price is $205.84.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). The firm had revenue of $218.38 million for the quarter, compared to the consensus estimate of $221.11 million. Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. Equities research analysts forecast that Axsome Therapeutics will post -2.78 EPS for the current year.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, Director Roger Jeffs sold 286 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total value of $70,407.48. Following the sale, the director owned 58,653 shares in the company, valued at approximately $14,439,195.54. This represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mark Coleman sold 643 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $249.00, for a total transaction of $160,107.00. Following the transaction, the director owned 30,389 shares of the company’s stock, valued at $7,566,861. The trade was a 2.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 200,766 shares of company stock worth $46,685,646. 20.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Two Sigma Securities LLC bought a new position in shares of Axsome Therapeutics in the second quarter worth approximately $908,000. Alyeska Investment Group L.P. purchased a new position in Axsome Therapeutics in the 2nd quarter worth approximately $4,918,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Axsome Therapeutics by 34.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,178 shares of the company’s stock worth $31,129,000 after acquiring an additional 32,241 shares during the last quarter. Goodwin Investment Advisory bought a new position in Axsome Therapeutics in the 2nd quarter valued at approximately $1,038,000. Finally, Kingsview Wealth Management LLC purchased a new stake in Axsome Therapeutics during the 2nd quarter valued at $519,000. 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.