Axsome Therapeutics (NASDAQ:AXSM) Sets New 1-Year High – What’s Next?

Axsome Therapeutics, Inc. (NASDAQ:AXSM)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $240.76 and last traded at $241.3280, with a volume of 279345 shares traded. The stock had previously closed at $231.48.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Robert W. Baird increased their target price on Axsome Therapeutics from $241.00 to $246.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. HC Wainwright restated a “buy” rating on shares of Axsome Therapeutics in a research report on Thursday. Wolfe Research assumed coverage on Axsome Therapeutics in a research report on Monday, February 23rd. They set an “outperform” rating and a $230.00 target price on the stock. Mizuho increased their target price on Axsome Therapeutics from $228.00 to $310.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $251.26.

Axsome Therapeutics Stock Up 0.6%

The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. The company has a market cap of $11.99 billion, a PE ratio of -62.45 and a beta of 0.61. The stock has a 50-day moving average of $201.25 and a 200-day moving average of $178.04.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The business had revenue of $191.20 million during the quarter, compared to analysts’ expectations of $191.10 million. The company’s revenue was up 57.4% compared to the same quarter last year. Sell-side analysts predict that Axsome Therapeutics, Inc. will post -2.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark Coleman sold 5,537 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $223.39, for a total value of $1,236,910.43. Following the sale, the director owned 29,603 shares in the company, valued at approximately $6,613,014.17. This trade represents a 15.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Mark L. Jacobson sold 233 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $228.18, for a total value of $53,165.94. Following the completion of the sale, the chief operating officer owned 4,517 shares in the company, valued at $1,030,689.06. This trade represents a 4.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 29,787 shares of company stock worth $6,470,391. Corporate insiders own 20.60% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in AXSM. Kemnay Advisory Services Inc. purchased a new stake in shares of Axsome Therapeutics in the fourth quarter worth $31,000. Hollencrest Capital Management increased its stake in Axsome Therapeutics by 400.0% in the first quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock valued at $34,000 after acquiring an additional 160 shares during the last quarter. Optiver Holding B.V. raised its position in Axsome Therapeutics by 82.3% during the third quarter. Optiver Holding B.V. now owns 288 shares of the company’s stock valued at $35,000 after purchasing an additional 130 shares in the last quarter. Ameriflex Group Inc. bought a new stake in Axsome Therapeutics during the fourth quarter worth about $37,000. Finally, Essex Investment Management Co. LLC bought a new stake in Axsome Therapeutics during the third quarter worth about $38,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

About Axsome Therapeutics

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.