Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $131.15, but opened at $124.66. Axsome Therapeutics shares last traded at $125.71, with a volume of 191,092 shares trading hands.
Wall Street Analysts Forecast Growth
AXSM has been the topic of several research analyst reports. Truist Financial raised their price objective on Axsome Therapeutics from $190.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday. Robert W. Baird raised their price objective on Axsome Therapeutics from $112.00 to $116.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Needham & Company LLC raised their price objective on Axsome Therapeutics from $133.00 to $153.00 and gave the company a "buy" rating in a research note on Wednesday. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $153.00 price objective on shares of Axsome Therapeutics in a research note on Wednesday. Finally, Leerink Partners lifted their price target on Axsome Therapeutics from $110.00 to $150.00 and gave the company an "outperform" rating in a research note on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $155.47.
Check Out Our Latest Report on Axsome Therapeutics
Axsome Therapeutics Trading Up 6.7 %
The firm has a 50-day moving average of $101.29 and a 200-day moving average of $94.84. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.37 and a current ratio of 2.11. The firm has a market capitalization of $6.72 billion, a P/E ratio of -23.00 and a beta of 1.05.
Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. The business had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. On average, equities research analysts anticipate that Axsome Therapeutics, Inc. will post -2.26 EPS for the current fiscal year.
Insider Buying and Selling
In other news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the sale, the chief financial officer now directly owns 42,187 shares in the company, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.40% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Axsome Therapeutics
A number of large investors have recently made changes to their positions in the business. Pitcairn Co. grew its position in shares of Axsome Therapeutics by 3.4% in the 4th quarter. Pitcairn Co. now owns 4,562 shares of the company's stock worth $386,000 after buying an additional 148 shares during the last quarter. Meridian Wealth Management LLC grew its position in shares of Axsome Therapeutics by 0.7% in the 4th quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company's stock worth $1,791,000 after buying an additional 150 shares during the last quarter. Summit Investment Advisors Inc. grew its position in shares of Axsome Therapeutics by 4.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company's stock worth $326,000 after buying an additional 162 shares during the last quarter. Arizona State Retirement System grew its position in shares of Axsome Therapeutics by 1.8% in the 4th quarter. Arizona State Retirement System now owns 9,054 shares of the company's stock worth $766,000 after buying an additional 164 shares during the last quarter. Finally, Intrust Bank NA grew its position in shares of Axsome Therapeutics by 6.9% in the 4th quarter. Intrust Bank NA now owns 2,823 shares of the company's stock worth $239,000 after buying an additional 183 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors.
About Axsome Therapeutics
(
Get Free Report)
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.
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