Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives Average Rating of "Moderate Buy" from Analysts

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) has received an average recommendation of "Moderate Buy" from the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $122.08.

Several research analysts recently weighed in on AXSM shares. Morgan Stanley upgraded Axsome Therapeutics from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $90.00 to $115.00 in a research report on Monday, April 29th. Robert W. Baird boosted their price objective on shares of Axsome Therapeutics from $108.00 to $112.00 and gave the company an "outperform" rating in a report on Tuesday, May 7th. Mizuho reaffirmed a "buy" rating and set a $106.00 target price on shares of Axsome Therapeutics in a research note on Wednesday, June 12th. Cantor Fitzgerald reissued an "overweight" rating and issued a $107.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada increased their price objective on shares of Axsome Therapeutics from $127.00 to $130.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 5th.

Insider Activity

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 24,662 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $77.24, for a total transaction of $1,904,892.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Axsome Therapeutics news, Director Mark Coleman sold 5,249 shares of the business's stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.21, for a total transaction of $394,777.29. Following the transaction, the director now owns 19,848 shares in the company, valued at approximately $1,492,768.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mark L. Jacobson sold 24,662 shares of the firm's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,821 shares of company stock valued at $2,887,462. Insiders own 22.40% of the company's stock.

Institutional Trading of Axsome Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in Axsome Therapeutics by 1.3% in the 4th quarter. Principal Financial Group Inc. now owns 9,497 shares of the company's stock valued at $756,000 after acquiring an additional 120 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Axsome Therapeutics by 0.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 17,999 shares of the company's stock valued at $1,433,000 after purchasing an additional 135 shares in the last quarter. Natixis grew its position in shares of Axsome Therapeutics by 13.6% in the first quarter. Natixis now owns 1,235 shares of the company's stock valued at $99,000 after purchasing an additional 148 shares during the last quarter. Washington Trust Advisors Inc. purchased a new position in shares of Axsome Therapeutics during the 4th quarter worth approximately $26,000. Finally, Oak Ridge Investments LLC raised its position in shares of Axsome Therapeutics by 2.7% during the 1st quarter. Oak Ridge Investments LLC now owns 15,930 shares of the company's stock worth $1,271,000 after purchasing an additional 413 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company's stock.

Axsome Therapeutics Price Performance

Shares of Axsome Therapeutics stock traded up $0.41 on Friday, hitting $80.50. 1,432,706 shares of the company were exchanged, compared to its average volume of 845,745. The company has a quick ratio of 3.09, a current ratio of 3.20 and a debt-to-equity ratio of 1.25. The company has a 50-day moving average price of $74.98 and a 200 day moving average price of $78.74. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of -12.62 and a beta of 1.25. Axsome Therapeutics has a 1-year low of $55.02 and a 1-year high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings data on Monday, May 6th. The company reported ($1.09) EPS for the quarter, topping analysts' consensus estimates of ($1.20) by $0.11. The firm had revenue of $75.00 million for the quarter, compared to the consensus estimate of $69.91 million. Axsome Therapeutics had a negative return on equity of 87.17% and a negative net margin of 118.07%. As a group, sell-side analysts predict that Axsome Therapeutics will post -4.7 earnings per share for the current fiscal year.

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.