HC Wainwright Reaffirms "Buy" Rating for Axsome Therapeutics (NASDAQ:AXSM)

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at HC Wainwright in a research note issued on Thursday,Benzinga reports. They currently have a $200.00 target price on the stock. HC Wainwright's price target indicates a potential upside of 102.44% from the company's current price.

A number of other equities analysts have also commented on AXSM. Leerink Partners raised their price objective on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th. Cantor Fitzgerald reissued an "overweight" rating and set a $153.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, February 19th. Mizuho increased their price objective on Axsome Therapeutics from $212.00 to $216.00 and gave the company an "outperform" rating in a report on Thursday, March 27th. William Blair restated an "outperform" rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Finally, Morgan Stanley boosted their price objective on Axsome Therapeutics from $125.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $169.80.

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Axsome Therapeutics Stock Performance

Shares of AXSM traded down $0.07 during mid-day trading on Thursday, reaching $98.79. The company's stock had a trading volume of 894,890 shares, compared to its average volume of 666,070. 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 stock has a market cap of $4.82 billion, a P/E ratio of -16.45 and a beta of 0.88. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $139.13. The business has a 50-day simple moving average of $120.62 and a two-hundred day simple moving average of $101.82.

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

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics 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 value of $393,210.00. Following the completion of the transaction, the chief financial officer now directly owns 42,187 shares of the company's stock, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 22.40% of the company's stock.

Institutional Trading of Axsome Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Raiffeisen Bank International AG bought a new position in Axsome Therapeutics in the fourth quarter valued at $51,000. Assetmark Inc. bought a new stake in shares of Axsome Therapeutics in the fourth quarter worth about $52,000. R Squared Ltd purchased a new position in shares of Axsome Therapeutics during the fourth quarter valued at approximately $64,000. Aquatic Capital Management LLC bought a new position in Axsome Therapeutics in the 4th quarter worth $76,000. Finally, GF Fund Management CO. LTD. purchased a new stake in Axsome Therapeutics in the fourth quarter worth about $86,000. Hedge funds and other 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.