Axsome Therapeutics, Inc. (NASDAQ:AXSM) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $119.67.

AXSM has been the subject of a number of research reports. Piper Sandler raised their target price on Axsome Therapeutics from $90.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Royal Bank of Canada lifted their price objective on Axsome Therapeutics from $123.00 to $128.00 and gave the stock an “outperform” rating in a research report on Tuesday. HC Wainwright lifted their price objective on Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday. Mizuho lowered their price objective on Axsome Therapeutics from $112.00 to $108.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Finally, Guggenheim lifted their price objective on Axsome Therapeutics from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st.

Axsome Therapeutics Stock Up 3.2 %

Shares of NASDAQ AXSM opened at $79.17 on Thursday. The stock has a market cap of $3.75 billion, a PE ratio of -15.23 and a beta of 1.17. The business has a fifty day moving average of $84.10 and a two-hundred day moving average of $75.29. Axsome Therapeutics has a 52-week low of $55.02 and a 52-week high of $98.40. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.52 and a current ratio of 3.63.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Tuesday, February 20th. The company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.48. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. The company had revenue of $71.53 million during the quarter, compared to analyst estimates of $70.38 million. As a group, equities research analysts expect that Axsome Therapeutics will post -3.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Roger Jeffs sold 29,976 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the sale, the director now owns 120,756 shares of the company’s stock, valued at approximately $8,416,693.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 24.50% of the stock is currently owned by company insiders.

Institutional Trading of Axsome Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. RA Capital Management L.P. bought a new position in Axsome Therapeutics during the 2nd quarter worth about $71,860,000. Perceptive Advisors LLC increased its holdings in Axsome Therapeutics by 115.5% during the 4th quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock worth $82,616,000 after purchasing an additional 556,370 shares in the last quarter. Eventide Asset Management LLC bought a new position in Axsome Therapeutics during the 3rd quarter worth about $24,232,000. Goldman Sachs Group Inc. increased its holdings in Axsome Therapeutics by 549.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 377,337 shares of the company’s stock worth $14,452,000 after purchasing an additional 319,200 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Axsome Therapeutics by 11.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,111,500 shares of the company’s stock worth $138,835,000 after purchasing an additional 309,362 shares in the last quarter. Institutional investors and hedge funds 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.