Axsome Therapeutics (NASDAQ:AXSM) Shares Gap Down - Should You Sell?

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $116.63, but opened at $112.43. Axsome Therapeutics shares last traded at $107.13, with a volume of 241,275 shares changing hands.

Wall Street Analysts Forecast Growth

AXSM has been the subject of several research analyst reports. Truist Financial lifted their target price on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Royal Bank of Canada lifted their price objective on shares of Axsome Therapeutics from $143.00 to $192.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. HC Wainwright reissued a "buy" rating and issued a $200.00 price objective on shares of Axsome Therapeutics in a research report on Thursday. William Blair reaffirmed an "outperform" rating on shares of Axsome Therapeutics in a research report on Tuesday, February 18th. Finally, Morgan Stanley boosted their price target on Axsome Therapeutics from $125.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $167.64.

Axsome Therapeutics Stock Performance

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 PE ratio of -16.50 and a beta of 0.88. The business's 50-day moving average price is $120.62 and its 200-day moving average price is $101.67.

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Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. As a group, equities research analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the transaction, the chief financial officer now owns 42,187 shares in the company, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 22.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Axsome Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Raiffeisen Bank International AG acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at about $51,000. Assetmark Inc. acquired a new position in shares of Axsome Therapeutics during the 4th quarter worth approximately $52,000. R Squared Ltd purchased a new stake in shares of Axsome Therapeutics in the fourth quarter valued at approximately $64,000. Aquatic Capital Management LLC acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at approximately $76,000. Finally, GF Fund Management CO. LTD. acquired a new position in Axsome Therapeutics during the fourth quarter worth $86,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.