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

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has been assigned a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $122.08.

Several brokerages recently issued reports on AXSM. Morgan Stanley raised Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $90.00 to $115.00 in a research report on Monday, April 29th. Robert W. Baird lifted their price objective on Axsome Therapeutics from $108.00 to $112.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Truist Financial reissued a “buy” rating and set a $150.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, March 26th. Citigroup dropped their price target on shares of Axsome Therapeutics from $127.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Finally, Mizuho reissued a “buy” rating and set a $106.00 target price on shares of Axsome Therapeutics in a research note on Wednesday, June 12th.

Insider Activity

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 7,910 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total value of $587,792.10. Following the transaction, the chief operating officer now owns 5,783 shares in the company, valued at $429,734.73. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Mark Coleman sold 5,249 shares of Axsome Therapeutics stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $75.21, for a total transaction of $394,777.29. Following the completion of the transaction, the director now directly owns 19,848 shares in the company, valued at $1,492,768.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Mark L. Jacobson sold 7,910 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total transaction of $587,792.10. Following the sale, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at $429,734.73. The disclosure for this sale can be found here. Company insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Several large investors have recently added to or reduced their stakes in AXSM. Washington Trust Advisors Inc. bought a new position in shares of Axsome Therapeutics in the fourth quarter valued at approximately $26,000. EntryPoint Capital LLC purchased a new position in Axsome Therapeutics during the 1st quarter worth $35,000. Russell Investments Group Ltd. grew its stake in shares of Axsome Therapeutics by 5,550.0% in the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after acquiring an additional 777 shares in the last quarter. Covestor Ltd raised its holdings in shares of Axsome Therapeutics by 54,750.0% in the first quarter. Covestor Ltd now owns 1,097 shares of the company’s stock valued at $88,000 after purchasing an additional 1,095 shares during the last quarter. Finally, Janiczek Wealth Management LLC bought a new position in shares of Axsome Therapeutics during the first quarter valued at about $97,000. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $80.21 on Friday. The business’s 50-day moving average price is $75.48 and its 200-day moving average price is $78.88. Axsome Therapeutics has a 12 month low of $55.02 and a 12 month high of $98.40. The company has a current ratio of 3.20, a quick ratio of 3.09 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of -12.57 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Monday, May 6th. The company reported ($1.09) earnings per share 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 analyst estimates of $69.91 million. Axsome Therapeutics had a negative net margin of 118.07% and a negative return on equity of 87.17%. Equities research analysts forecast that Axsome Therapeutics will post -4.7 EPS for the current 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.