Axsome Therapeutics, Inc. (NASDAQ:AXSM) Stock Has Average Price Target of $275.84 According to Brokerages

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has been assigned an average recommendation of “Moderate Buy” from the twenty-one analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seventeen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $275.84.

A number of equities research analysts have commented on AXSM shares. Deutsche Bank Aktiengesellschaft decreased their price target on Axsome Therapeutics from $280.00 to $267.00 and set a “buy” rating on the stock in a report on Tuesday, September 29th. HC Wainwright reaffirmed a “buy” rating on shares of Axsome Therapeutics in a report on Friday, September 25th. UBS Group restated a “buy” rating on shares of Axsome Therapeutics in a research report on Monday, August 24th. BMO Capital Markets assumed coverage on Axsome Therapeutics in a report on Monday, July 20th. They issued an “outperform” rating and a $310.00 price target for the company. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $380.00 target price on shares of Axsome Therapeutics in a report on Thursday, June 11th.

Axsome Therapeutics Price Performance

NASDAQ AXSM opened at $174.34 on Friday. The business’s fifty day moving average is $206.30 and its 200 day moving average is $212.68. The company has a market capitalization of $9.13 billion, a PE ratio of -46.49 and a beta of 0.86. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43. Axsome Therapeutics has a fifty-two week low of $117.30 and a fifty-two week high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.10). The firm had revenue of $218.38 million during the quarter, compared to analysts’ expectations of $221.11 million. Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%. Sell-side analysts predict that Axsome Therapeutics will post -2.92 earnings per share for the current year.

Insider Activity

In other news, COO Mark L. Jacobson sold 10,000 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $208.65, for a total transaction of $2,086,500.00. Following the transaction, the chief operating officer directly owned 10,000 shares of the company’s stock, valued at approximately $2,086,500. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Herriot Tabuteau sold 45,004 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $212.01, for a total value of $9,541,298.04. Following the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at $1,532,620.29. This represents a 86.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 59,664 shares of company stock worth $12,624,805 in the last quarter. 20.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AXSM. BlackRock Inc. purchased a new position in Axsome Therapeutics in the 2nd quarter worth $759,695,000. Geode Capital Management LLC boosted its holdings in Axsome Therapeutics by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company’s stock worth $184,544,000 after buying an additional 12,549 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Axsome Therapeutics by 85.0% during the first quarter. Assenagon Asset Management S.A. now owns 865,958 shares of the company’s stock worth $146,364,000 after buying an additional 397,976 shares in the last quarter. First Trust Advisors LP grew its position in Axsome Therapeutics by 1,230.2% during the first quarter. First Trust Advisors LP now owns 577,479 shares of the company’s stock valued at $97,606,000 after buying an additional 534,066 shares during the period. Finally, Norges Bank purchased a new position in Axsome Therapeutics in the fourth quarter valued at $90,490,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. The company uses differentiated product candidates and targeted mechanisms to address conditions with significant unmet medical needs, including depression, sleep disorders, migraine, and other neurological or psychiatric diseases.

Axsome’s lead commercial product is Auvelity (dextromethorphan hydrobromide and bupropion hydrochloride), an oral medicine approved in the United States for the treatment of major depressive disorder in adults.