Axsome Therapeutics (NASDAQ:AXSM) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research report released on Tuesday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $140.00 price objective on the stock.

A number of other brokerages also recently issued reports on AXSM. Citigroup decreased their price objective on Axsome Therapeutics from $127.00 to $125.00 and set a buy rating on the stock in a research report on Tuesday, May 7th. Cantor Fitzgerald restated an overweight rating and set a $107.00 price target on shares of Axsome Therapeutics in a report on Friday, July 26th. Bank of America raised shares of Axsome Therapeutics from a neutral rating to a buy rating and lifted their price objective for the stock from $95.00 to $106.00 in a research note on Tuesday, August 6th. Mizuho reissued a buy rating and issued a $106.00 target price on shares of Axsome Therapeutics in a research note on Wednesday, June 12th. Finally, StockNews.com cut shares of Axsome Therapeutics from a hold rating to a sell rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $124.57.

Axsome Therapeutics Trading Down 0.5 %

Shares of AXSM opened at $93.19 on Tuesday. The stock has a market capitalization of $4.43 billion, a PE ratio of -14.71 and a beta of 1.26. The company’s fifty day moving average is $85.45 and its 200 day moving average is $78.80. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.40 and a current ratio of 2.48. Axsome Therapeutics has a fifty-two week low of $55.02 and a fifty-two week high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, August 5th. The company reported ($1.24) EPS for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.06. The business had revenue of $87.17 million during the quarter, compared to analysts’ expectations of $84.53 million. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. Sell-side analysts expect that Axsome Therapeutics will post -4.72 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Mark L. Jacobson sold 47,739 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $84.26, for a total value of $4,022,488.14. Following the transaction, the chief operating officer now owns 5,783 shares of the company’s stock, valued at $487,275.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

A number of hedge funds have recently added to or reduced their stakes in AXSM. Principal Financial Group Inc. raised its holdings in shares of 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 purchasing an additional 120 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in Axsome Therapeutics by 0.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 17,999 shares of the company’s stock worth $1,433,000 after buying an additional 135 shares in the last quarter. Natixis raised its stake in Axsome Therapeutics by 13.6% in the first quarter. Natixis now owns 1,235 shares of the company’s stock worth $99,000 after buying an additional 148 shares in the last quarter. Arizona State Retirement System lifted its holdings in Axsome Therapeutics by 2.1% during the second quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock worth $695,000 after buying an additional 177 shares during the period. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in Axsome Therapeutics during the 2nd quarter valued at $27,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

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.