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

HC Wainwright restated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM - Free Report) in a research report released on Thursday,Benzinga reports. They currently have a $200.00 price target on the stock.

AXSM has been the topic of several other research reports. StockNews.com raised shares of Axsome Therapeutics from a "sell" rating to a "hold" rating in a research report on Wednesday, November 20th. Mizuho increased their target price on shares of Axsome Therapeutics from $195.00 to $212.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Wells Fargo & Company upped their price objective on Axsome Therapeutics from $140.00 to $160.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Truist Financial boosted their target price on Axsome Therapeutics from $190.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Axsome Therapeutics in a report on Tuesday, February 11th. They issued a "buy" rating and a $176.00 price objective for the company. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Axsome Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $167.36.

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Axsome Therapeutics Trading Down 2.8 %

AXSM traded down $3.39 during midday trading on Thursday, hitting $118.78. 693,408 shares of the company were exchanged, compared to its average volume of 656,269. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $139.13. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. The firm has a market capitalization of $5.79 billion, a P/E ratio of -19.83 and a beta of 1.00. The firm's 50 day moving average price is $108.78 and its 200-day moving average price is $97.83.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The firm had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. As a group, equities analysts forecast that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the transaction, the chief financial officer now owns 42,187 shares of the company's stock, valued at $5,529,450.09. This represents a 6.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 22.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Privium Fund Management B.V. boosted its holdings in shares of Axsome Therapeutics by 7.9% during the 3rd quarter. Privium Fund Management B.V. now owns 80,232 shares of the company's stock valued at $7,210,000 after buying an additional 5,900 shares in the last quarter. Versor Investments LP purchased a new position in Axsome Therapeutics during the third quarter valued at $791,000. WCM Investment Management LLC boosted its holdings in Axsome Therapeutics by 0.3% in the third quarter. WCM Investment Management LLC now owns 113,692 shares of the company's stock worth $10,191,000 after acquiring an additional 347 shares in the last quarter. Royce & Associates LP increased its holdings in shares of Axsome Therapeutics by 73.1% during the third quarter. Royce & Associates LP now owns 22,500 shares of the company's stock valued at $2,022,000 after acquiring an additional 9,500 shares in the last quarter. Finally, Whalen Wealth Management Inc. purchased a new stake in Axsome Therapeutics during the 3rd quarter valued at about $236,000. Institutional investors own 81.49% of the company's stock.

About Axsome Therapeutics

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.