Axsome Therapeutics (NASDAQ:AXSM) Shares Gap Down – Time to Sell?

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AXSM shares. Bank of America boosted their price objective on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a report on Tuesday. Mizuho raised their price objective on Axsome Therapeutics from $137.00 to $195.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. HC Wainwright reiterated a “buy” rating and issued a $190.00 target price on shares of Axsome Therapeutics in a report on Tuesday, February 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $121.00 price target on shares of Axsome Therapeutics in a research report on Thursday, December 12th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.13.

Axsome Therapeutics Stock Performance

The firm’s 50 day moving average is $98.47 and its 200 day moving average is $93.68. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The stock has a market cap of $6.21 billion, a P/E ratio of -19.62 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. Analysts anticipate that Axsome Therapeutics, Inc. will post -4.7 EPS for the current year.

Insider Activity

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares in the company, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Boxer Capital Management LLC acquired a new stake in Axsome Therapeutics during the 4th quarter worth about $39,767,000. Lazard Asset Management LLC grew its holdings in Axsome Therapeutics by 525.7% during the fourth quarter. Lazard Asset Management LLC now owns 537,669 shares of the company’s stock worth $45,492,000 after acquiring an additional 451,737 shares during the period. Norges Bank purchased a new position in Axsome Therapeutics during the fourth quarter valued at approximately $34,100,000. BVF Inc. IL lifted its holdings in Axsome Therapeutics by 32.7% in the fourth quarter. BVF Inc. IL now owns 1,388,064 shares of the company’s stock valued at $117,444,000 after acquiring an additional 342,064 shares during the period. Finally, Iron Triangle Partners LP acquired a new position in Axsome Therapeutics in the third quarter valued at approximately $22,671,000. Hedge funds and other institutional investors 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.