Wolfe Research Initiates Coverage on Axsome Therapeutics (NASDAQ:AXSM)

Analysts at Wolfe Research began coverage on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $230.00 price target on the stock. Wolfe Research’s price target suggests a potential upside of 35.33% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Wednesday, January 21st. Morgan Stanley set a $207.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday. UBS Group increased their target price on shares of Axsome Therapeutics from $248.00 to $251.00 and gave the company a “buy” rating in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 price target on shares of Axsome Therapeutics in a report on Monday. Finally, HC Wainwright upped their price objective on Axsome Therapeutics from $200.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Seventeen investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $216.12.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $169.95 on Monday. The company has a market capitalization of $8.57 billion, a PE ratio of -46.06, a PEG ratio of 12.57 and a beta of 0.40. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. The stock’s 50 day moving average price is $174.91 and its 200-day moving average price is $145.40. Axsome Therapeutics has a twelve month low of $86.99 and a twelve month high of $191.50.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Monday, February 23rd. The company reported ($0.56) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.14. Axsome Therapeutics had a negative return on equity of 251.47% and a negative net margin of 28.69%.The company had revenue of $196.00 million during the quarter, compared to the consensus estimate of $191.33 million. Axsome Therapeutics’s revenue was up 65.0% compared to the same quarter last year. On average, equities analysts anticipate that Axsome Therapeutics will post -2.79 EPS for the current year.

Insider Buying and Selling

In other news, Director Mark E. Saad sold 37,577 shares of the company’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $165.18, for a total transaction of $6,206,968.86. Following the sale, the director directly owned 10,002 shares in the company, valued at $1,652,130.36. This represents a 78.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Nick Pizzie sold 12,000 shares of the stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $187.92, for a total transaction of $2,255,040.00. Following the completion of the sale, the chief financial officer directly owned 42,588 shares in the company, valued at approximately $8,003,136.96. The trade was a 21.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 308,874 shares of company stock valued at $51,390,805. 22.40% of the stock is owned by company insiders.

Institutional Trading of Axsome Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC bought a new position in Axsome Therapeutics in the 4th quarter valued at $2,844,000. Invesco Ltd. raised its position in shares of Axsome Therapeutics by 28.6% in the fourth quarter. Invesco Ltd. now owns 1,273,494 shares of the company’s stock worth $232,591,000 after buying an additional 282,937 shares in the last quarter. Strive Financial Group LLC bought a new stake in Axsome Therapeutics during the fourth quarter valued at $62,000. Ameriflex Group Inc. purchased a new position in Axsome Therapeutics during the fourth quarter worth about $37,000. Finally, Mercer Global Advisors Inc. ADV grew its position in Axsome Therapeutics by 64.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 3,222 shares of the company’s stock worth $588,000 after buying an additional 1,260 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.