StockNews.com Upgrades Axsome Therapeutics (NASDAQ:AXSM) to "Hold"

StockNews.com upgraded shares of Axsome Therapeutics (NASDAQ:AXSM - Free Report) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

A number of other brokerages have also issued reports on AXSM. HC Wainwright reiterated a "buy" rating and set a $180.00 price target on shares of Axsome Therapeutics in a research note on Thursday, September 5th. 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. UBS Group dropped their price objective on Axsome Therapeutics from $107.00 to $105.00 and set a "buy" rating for the company in a research note on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $107.00 price target on shares of Axsome Therapeutics in a research note on Monday, September 16th. Finally, Royal Bank of Canada increased their price objective on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $124.93.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM traded down $0.86 during trading hours on Wednesday, reaching $94.60. The stock had a trading volume of 380,644 shares, compared to its average volume of 620,052. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of -14.79 and a beta of 1.26. Axsome Therapeutics has a fifty-two week low of $58.61 and a fifty-two week high of $105.00. The firm has a 50-day moving average of $90.69 and a 200-day moving average of $84.69. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97.

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

Insider Buying and Selling at Axsome Therapeutics

In related news, Director Mark E. Saad sold 11,016 shares of the company's stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the sale, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 22.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in Axsome Therapeutics by 2.7% in the third quarter. Geode Capital Management LLC now owns 908,459 shares of the company's stock valued at $81,659,000 after acquiring an additional 23,564 shares during the period. Barclays PLC lifted its position in Axsome Therapeutics by 279.6% in the 3rd quarter. Barclays PLC now owns 61,785 shares of the company's stock valued at $5,552,000 after purchasing an additional 45,509 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Axsome Therapeutics by 1.1% in the third quarter. Wellington Management Group LLP now owns 742,745 shares of the company's stock valued at $66,750,000 after purchasing an additional 8,125 shares during the period. Iron Triangle Partners LP acquired a new position in shares of Axsome Therapeutics during the third quarter worth approximately $22,671,000. Finally, Erste Asset Management GmbH bought a new stake in Axsome Therapeutics during the 3rd quarter valued at $986,000. Institutional investors and hedge funds own 81.49% of the company's stock.

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.