Axsome Therapeutics (NASDAQ:AXSM) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Axsome Therapeutics (NASDAQ:AXSM – Get Rating) in a report published on Thursday. The brokerage issued a sell rating on the stock.

A number of other equities analysts have also commented on AXSM. Bank of America reissued an underperform rating and issued a $52.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, February 14th. SVB Leerink boosted their price objective on Axsome Therapeutics from $65.00 to $85.00 and gave the stock an outperform rating in a research note on Tuesday, November 29th. Piper Sandler began coverage on Axsome Therapeutics in a research note on Thursday, January 5th. They issued a neutral rating and a $75.00 price objective on the stock. Mizuho reissued a buy rating and issued a $84.00 price objective on shares of Axsome Therapeutics in a research note on Monday, March 13th. Finally, Guggenheim reduced their price objective on Axsome Therapeutics from $105.00 to $90.00 and set a buy rating on the stock in a research note on Tuesday, February 28th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $104.64.

Axsome Therapeutics Price Performance

Shares of AXSM stock opened at $62.74 on Thursday. The stock’s fifty day simple moving average is $66.01 and its 200 day simple moving average is $61.97. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.54 and a quick ratio of 2.50. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of -13.73 and a beta of 1.95. Axsome Therapeutics has a one year low of $20.63 and a one year high of $82.00.

Axsome Therapeutics (NASDAQ:AXSM – Get Rating) last announced its quarterly earnings results on Monday, February 27th. The company reported ($1.28) EPS for the quarter, missing the consensus estimate of ($1.18) by ($0.10). The company had revenue of $24.37 million during the quarter, compared to analyst estimates of $21.51 million. On average, analysts expect that Axsome Therapeutics will post -4.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Axsome Therapeutics by 11.0% in the third quarter. Vanguard Group Inc. now owns 3,111,500 shares of the company’s stock valued at $138,835,000 after purchasing an additional 309,362 shares during the last quarter. RTW Investments LP increased its holdings in Axsome Therapeutics by 16.3% in the third quarter. RTW Investments LP now owns 1,882,164 shares of the company’s stock valued at $83,982,000 after purchasing an additional 263,345 shares during the last quarter. PFM Health Sciences LP increased its holdings in Axsome Therapeutics by 22.0% in the third quarter. PFM Health Sciences LP now owns 1,659,733 shares of the company’s stock valued at $74,057,000 after purchasing an additional 299,137 shares during the last quarter. State Street Corp increased its holdings in Axsome Therapeutics by 22.0% in the second quarter. State Street Corp now owns 852,983 shares of the company’s stock valued at $32,669,000 after purchasing an additional 153,977 shares during the last quarter. Finally, Bellevue Group AG increased its holdings in shares of Axsome Therapeutics by 10.4% in the first quarter. Bellevue Group AG now owns 719,482 shares of the company’s stock worth $29,779,000 after acquiring an additional 67,545 shares in the last quarter. Institutional investors own 59.71% of the company’s stock.

About Axsome Therapeutics

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Axsome Therapeutics, Inc is a commercial-stage biopharmaceutical company, which engages in the development of novel therapies for the management of central nervous system disorders. Its portfolio consists of Products Overview and Pipeline Overview. The Products Overview includes Auvelity and Sunosi. The Pipeline Overview contain AXS-05, AXS-07, AXS-12, and AXS-14.