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

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) has received a consensus rating of "Buy" from the fourteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Fourteen equities research analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have covered the stock in the last year is $124.93.

A number of equities research analysts have weighed in on AXSM shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, November 12th. Royal Bank of Canada increased their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an "outperform" rating in a research report on Friday, October 4th. HC Wainwright reaffirmed a "buy" rating and set a $180.00 price target on shares of Axsome Therapeutics in a research note on Monday. Bank of America upgraded shares of Axsome Therapeutics from a "neutral" rating to a "buy" rating and lifted their price target for the company from $95.00 to $106.00 in a research report on Tuesday, August 6th. Finally, Wells Fargo & Company initiated coverage on Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an "overweight" rating and a $140.00 price target for the company.

Insiders Place Their Bets

In other news, Director Mark E. Saad sold 11,016 shares of the company's stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the sale, the director now owns 10,002 shares of the company's stock, valued at $913,282.62. This represents a 52.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Axsome Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company's stock valued at $298,474,000 after purchasing an additional 43,512 shares during the last quarter. XTX Topco Ltd boosted its holdings in Axsome Therapeutics by 177.9% in the second quarter. XTX Topco Ltd now owns 11,205 shares of the company's stock valued at $902,000 after purchasing an additional 7,173 shares during the last quarter. Tri Locum Partners LP boosted its holdings in Axsome Therapeutics by 198.4% in the second quarter. Tri Locum Partners LP now owns 306,513 shares of the company's stock valued at $24,674,000 after purchasing an additional 203,802 shares during the last quarter. Sofinnova Investments Inc. bought a new position in Axsome Therapeutics during the 2nd quarter worth approximately $24,971,000. Finally, Point72 Europe London LLP bought a new position in Axsome Therapeutics during the 2nd quarter worth approximately $2,475,000. Hedge funds and other institutional investors own 81.49% of the company's stock.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock traded down $0.05 during trading hours on Tuesday, hitting $97.45. 321,935 shares of the company were exchanged, compared to its average volume of 618,736. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The business has a 50-day moving average of $91.09 and a 200-day moving average of $85.30. Axsome Therapeutics has a 1 year low of $61.14 and a 1 year high of $105.00. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of -14.93 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping analysts' consensus estimates of ($1.38) by $0.04. The company had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter in the prior year, the firm earned ($1.32) EPS. As a group, analysts expect that Axsome Therapeutics will post -4.75 EPS for the current fiscal year.

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.