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

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have received an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $119.67.

AXSM has been the subject of several research analyst reports. Mizuho raised their target price on shares of Axsome Therapeutics from $108.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 target price on shares of Axsome Therapeutics in a report on Wednesday, April 10th. UBS Group assumed coverage on Axsome Therapeutics in a research report on Tuesday, February 6th. They issued a “buy” rating and a $111.00 target price for the company. HC Wainwright restated a “buy” rating and set a $190.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada increased their price objective on Axsome Therapeutics from $123.00 to $128.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th.

Axsome Therapeutics Trading Up 3.3 %

NASDAQ AXSM opened at $67.90 on Monday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.52 and a current ratio of 3.63. Axsome Therapeutics has a fifty-two week low of $55.02 and a fifty-two week high of $98.40. The stock has a market cap of $3.22 billion, a P/E ratio of -12.91 and a beta of 1.13. The stock has a 50 day simple moving average of $78.09 and a two-hundred day simple moving average of $75.03.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.48. The company had revenue of $71.53 million during the quarter, compared to analyst estimates of $70.38 million. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. On average, analysts forecast that Axsome Therapeutics will post -3.85 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Mark L. Jacobson sold 24,662 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, COO Mark L. Jacobson sold 24,662 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $77.24, for a total transaction of $1,904,892.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roger Jeffs sold 29,976 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the completion of the transaction, the director now owns 120,756 shares of the company’s stock, valued at $8,416,693.20. The disclosure for this sale can be found here. Corporate insiders own 24.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Trexquant Investment LP bought a new position in Axsome Therapeutics during the 3rd quarter valued at about $1,220,000. Kennedy Capital Management LLC lifted its position in Axsome Therapeutics by 24.2% during the third quarter. Kennedy Capital Management LLC now owns 12,092 shares of the company’s stock valued at $845,000 after purchasing an additional 2,354 shares during the period. Wellington Management Group LLP lifted its position in Axsome Therapeutics by 18.9% during the third quarter. Wellington Management Group LLP now owns 237,554 shares of the company’s stock valued at $16,603,000 after purchasing an additional 37,843 shares during the period. Victory Capital Management Inc. boosted its holdings in Axsome Therapeutics by 403.8% in the third quarter. Victory Capital Management Inc. now owns 18,934 shares of the company’s stock worth $1,323,000 after purchasing an additional 15,176 shares during the last quarter. Finally, Phocas Financial Corp. bought a new stake in Axsome Therapeutics in the 4th quarter worth approximately $2,140,000. 81.49% of the stock is owned by institutional investors.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company's commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.