Axsome Therapeutics (NASDAQ:AXSM) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Axsome Therapeutics (NASDAQ:AXSM) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

A number of other equities research analysts have also recently commented on the stock. HC Wainwright reissued a “buy” rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, September 5th. UBS Group lowered their price target on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Needham & Company LLC restated a “buy” rating and set a $130.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, November 12th. Wells Fargo & Company began coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 target price on the stock. Finally, Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $95.00 to $106.00 in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $124.93.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM opened at $98.68 on Wednesday. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of -15.11 and a beta of 1.26. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. The business’s 50 day simple moving average is $90.99 and its 200-day simple moving average is $85.01. Axsome Therapeutics has a 12 month low of $60.28 and a 12 month high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The company had revenue of $104.76 million for the quarter, compared to the consensus estimate of $98.71 million. During the same period in the previous year, the business earned ($1.32) earnings per share. As a group, equities analysts forecast that Axsome Therapeutics will post -4.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the transaction, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. This trade represents a 52.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 22.40% of the stock is owned by company insiders.

Institutional Trading of Axsome Therapeutics

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Axsome Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock valued at $298,474,000 after acquiring an additional 43,512 shares during the last quarter. Bellevue Group AG lifted its stake in shares of Axsome Therapeutics by 7.9% in the 1st quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock valued at $54,701,000 after purchasing an additional 50,104 shares in the last quarter. XTX Topco Ltd grew its holdings in shares of Axsome Therapeutics by 177.9% during the 2nd quarter. XTX Topco Ltd now owns 11,205 shares of the company’s stock worth $902,000 after purchasing an additional 7,173 shares during the period. Tri Locum Partners LP increased its position in Axsome Therapeutics by 198.4% during the 2nd quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock worth $24,674,000 after purchasing an additional 203,802 shares in the last quarter. Finally, Sofinnova Investments Inc. purchased a new position in Axsome Therapeutics in the second quarter valued at approximately $24,971,000. 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.