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 note released on Monday,Benzinga reports. The firm currently has a $180.00 target price on the stock.

AXSM has been the subject of a number of other research reports. Bank of America upgraded shares of Axsome Therapeutics from a "neutral" rating to a "buy" rating and increased their target price for the company from $95.00 to $106.00 in a research report on Tuesday, August 6th. Royal Bank of Canada lifted their price target on Axsome Therapeutics from $130.00 to $131.00 and gave the company an "outperform" rating in a research report on Friday, October 4th. UBS Group reduced their price objective on shares of Axsome Therapeutics from $107.00 to $105.00 and set a "buy" rating for the company in a research report on Tuesday, August 6th. Needham & Company LLC restated a "buy" rating and set a $130.00 target price on shares of Axsome Therapeutics in a report on Tuesday, November 12th. Finally, Wells Fargo & Company assumed coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an "overweight" rating and a $140.00 price objective for the company. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $124.93.

Axsome Therapeutics Stock Down 1.2 %

NASDAQ AXSM traded down $1.18 on Monday, hitting $97.50. 590,023 shares of the stock traded hands, compared to its average volume of 619,810. The company has a market capitalization of $4.72 billion, a P/E ratio of -15.25 and a beta of 1.26. The stock has a 50-day moving average of $90.99 and a 200 day moving average of $85.13. 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 has a twelve month low of $61.14 and a twelve month high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating 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 business had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. 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 earnings per share for the current fiscal year.

Insider Transactions at Axsome Therapeutics

In related news, Director Mark E. Saad sold 11,016 shares of the business's stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the transaction, the director now directly owns 10,002 shares in the company, valued at $913,282.62. The trade was a 52.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 22.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXSM. Geode Capital Management LLC increased its position in shares of Axsome Therapeutics by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 908,459 shares of the company's stock worth $81,659,000 after purchasing an additional 23,564 shares in the last quarter. Barclays PLC grew its stake in Axsome Therapeutics by 279.6% during the third quarter. Barclays PLC now owns 61,785 shares of the company's stock worth $5,552,000 after buying an additional 45,509 shares during the last quarter. Wellington Management Group LLP raised 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 acquiring an additional 8,125 shares during the last quarter. Iron Triangle Partners LP acquired a new position in shares of Axsome Therapeutics in the 3rd quarter worth approximately $22,671,000. Finally, Erste Asset Management GmbH bought a new stake in Axsome Therapeutics during the 3rd quarter worth approximately $986,000. 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.