Axsome Therapeutics (NASDAQ:AXSM) Coverage Initiated by Analysts at Jefferies Financial Group

Research analysts at Jefferies Financial Group began coverage on shares of Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) in a research report issued to clients and investors on Monday, MarketBeat reports. The firm set a "buy" rating and a $200.00 price target on the stock. Jefferies Financial Group's price target indicates a potential upside of 103.96% from the stock's previous close.

Several other analysts have also commented on the stock. Wells Fargo & Company increased their price target on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft started coverage on shares of Axsome Therapeutics in a research note on Tuesday, February 11th. They issued a "buy" rating and a $176.00 target price for the company. Morgan Stanley upped their price target on Axsome Therapeutics from $125.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Leerink Partners increased their price objective on Axsome Therapeutics from $110.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Finally, Bank of America boosted their target price on Axsome Therapeutics from $143.00 to $167.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Axsome Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $169.80.

Remove Ads

Axsome Therapeutics Stock Up 2.5 %

Shares of AXSM traded up $2.41 during mid-day trading on Monday, hitting $98.06. The company's stock had a trading volume of 867,734 shares, compared to its average volume of 678,891. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The company's 50-day moving average is $119.51 and its 200-day moving average is $101.99. Axsome Therapeutics has a 52-week low of $64.11 and a 52-week high of $139.13. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of -16.37 and a beta of 0.88.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.01. The business had revenue of $118.77 million for the quarter, compared to analysts' expectations 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, equities research analysts forecast that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Nick Pizzie sold 3,000 shares of the firm's stock in a transaction 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 transaction, 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 document filed with the SEC, which is available at this hyperlink. 22.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. NBC Securities Inc. acquired a new stake in shares of Axsome Therapeutics during the 1st quarter worth approximately $31,000. Raiffeisen Bank International AG purchased a new stake in Axsome Therapeutics during the fourth quarter worth $51,000. Assetmark Inc. acquired a new stake in Axsome Therapeutics during the fourth quarter valued at $52,000. R Squared Ltd purchased a new position in Axsome Therapeutics in the fourth quarter valued at $64,000. Finally, Aquatic Capital Management LLC acquired a new position in shares of Axsome Therapeutics in the fourth quarter worth about $76,000. 81.49% of the stock is 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.