Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives Average Rating of "Buy" from Brokerages

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) have received a consensus recommendation of "Buy" from the fifteen brokerages that are presently covering the firm, Marketbeat.com reports. Fifteen analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $167.64.

Several research analysts have commented on AXSM shares. Wells Fargo & Company upped their price objective on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. William Blair reiterated an "outperform" rating on shares of Axsome Therapeutics in a research report on Tuesday, February 18th. Robert W. Baird raised their price objective on shares of Axsome Therapeutics from $132.00 to $160.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Mizuho upped their target price on Axsome Therapeutics from $212.00 to $216.00 and gave the stock an "outperform" rating in a report on Thursday, March 27th. Finally, Royal Bank of Canada increased their target price on Axsome Therapeutics from $143.00 to $192.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th.

Axsome Therapeutics Trading Down 1.7 %

Shares of NASDAQ AXSM traded down $1.86 during trading hours on Monday, hitting $107.89. The company's stock had a trading volume of 754,308 shares, compared to its average volume of 661,438. The business has a 50-day simple moving average of $120.70 and a 200-day simple moving average of $101.63. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of -18.01 and a beta of 0.88. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $139.13.

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

Insider Buying and Selling

In related news, CFO Nick Pizzie sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, the chief financial officer now owns 42,187 shares of the company's stock, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 22.40% of the stock is currently owned by company insiders.

Institutional Trading of Axsome Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Raiffeisen Bank International AG purchased a new position in shares of Axsome Therapeutics in the fourth quarter worth $51,000. Assetmark Inc. purchased a new position in shares of Axsome Therapeutics during the fourth quarter valued at approximately $52,000. R Squared Ltd bought a new position in Axsome Therapeutics during the fourth quarter valued at approximately $64,000. Aquatic Capital Management LLC purchased a new stake in Axsome Therapeutics in the fourth quarter worth approximately $76,000. Finally, GF Fund Management CO. LTD. bought a new stake in Axsome Therapeutics in the 4th quarter worth approximately $86,000. 81.49% of the stock is currently owned by hedge funds and other 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.