Axsome Therapeutics (NASDAQ:AXSM) Stock Gets Price Target Reduction from Royal Bank Of Canada

Axsome Therapeutics (NASDAQ:AXSM) had its price objective lowered by Royal Bank Of Canada from $297.00 to $295.00 in a research report report published on Thursday, Marketbeat reports. Royal Bank Of Canada currently has an outperform rating on the stock.

AXSM has been the subject of a number of other reports. BMO Capital Markets initiated coverage on Axsome Therapeutics in a report on Monday, July 20th. They set an “outperform” rating and a $310.00 price target for the company. HC Wainwright reissued a “buy” rating on shares of Axsome Therapeutics in a research note on Friday, September 25th. Needham & Company LLC increased their target price on Axsome Therapeutics from $267.00 to $268.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Guggenheim raised their target price on Axsome Therapeutics from $260.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Finally, UBS Group reaffirmed a “buy” rating on shares of Axsome Therapeutics in a report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $275.74.

Axsome Therapeutics Price Performance

NASDAQ:AXSM opened at $168.35 on Thursday. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 1.52. The firm has a market cap of $8.82 billion, a PE ratio of -44.89 and a beta of 0.86. Axsome Therapeutics has a 12 month low of $119.20 and a 12 month high of $260.19. The company’s 50-day moving average price is $202.93 and its two-hundred day moving average price is $212.56.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $218.38 million for the quarter, compared to analyst estimates of $221.11 million. On average, equities analysts anticipate that Axsome Therapeutics will post -2.92 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Herriot Tabuteau sold 4,660 shares of Axsome Therapeutics stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $213.95, for a total value of $997,007.00. Following the completion of the sale, the chief executive officer directly owned 7,229 shares in the company, valued at $1,546,644.55. This trade represents a 39.20% 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 the SEC website. Also, COO Mark L. Jacobson sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer directly owned 10,000 shares of the company’s stock, valued at $2,086,500. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 59,664 shares of company stock valued at $12,624,805. 20.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in shares of Axsome Therapeutics by 19.9% in the 3rd quarter. GAMMA Investing LLC now owns 416 shares of the company’s stock valued at $77,000 after purchasing an additional 69 shares during the period. ABS Direct Equity Fund LLC acquired a new position in Axsome Therapeutics in the second quarter valued at about $60,000. Sequoia Financial Advisors LLC acquired a new position in Axsome Therapeutics in the second quarter valued at about $217,000. Integrated Wealth Concepts LLC bought a new position in Axsome Therapeutics during the second quarter worth about $251,000. Finally, NewEdge Advisors LLC bought a new position in Axsome Therapeutics during the second quarter worth about $277,000. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. The company uses differentiated product candidates and targeted mechanisms to address conditions with significant unmet medical needs, including depression, sleep disorders, migraine, and other neurological or psychiatric diseases.

Axsome’s lead commercial product is Auvelity (dextromethorphan hydrobromide and bupropion hydrochloride), an oral medicine approved in the United States for the treatment of major depressive disorder in adults.