Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives $267.60 Average Price Target from Brokerages

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have been given an average rating of “Moderate Buy” by the twenty-two ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, sixteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $267.60.

A number of brokerages have commented on AXSM. Jefferies Financial Group reissued a “buy” rating and set a $380.00 price objective on shares of Axsome Therapeutics in a report on Thursday, June 11th. Oppenheimer set a $280.00 target price on Axsome Therapeutics in a report on Monday, May 4th. Royal Bank Of Canada cut their target price on Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. HC Wainwright reiterated a “buy” rating and set a $290.00 price target on shares of Axsome Therapeutics in a report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft set a $280.00 price target on Axsome Therapeutics in a research report on Tuesday, May 5th.

Axsome Therapeutics Stock Up 1.2%

Axsome Therapeutics stock opened at $218.20 on Thursday. The firm has a market capitalization of $11.43 billion, a price-to-earnings ratio of -58.19 and a beta of 0.65. The firm’s fifty day moving average price is $233.99 and its two-hundred day moving average price is $205.84. Axsome Therapeutics has a 1-year low of $111.54 and a 1-year high of $260.19. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 1.52.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.10). Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%.The business had revenue of $218.38 million for the quarter, compared to the consensus estimate of $221.11 million. On average, equities research analysts predict that Axsome Therapeutics will post -2.78 earnings per share for the current fiscal year.

Insider Transactions at Axsome Therapeutics

In related news, CEO Herriot Tabuteau sold 4,660 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $213.95, for a total transaction of $997,007.00. Following the transaction, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at $1,546,644.55. This trade represents a 39.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan Mahony sold 300 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total transaction of $71,163.00. Following the transaction, the director owned 1,129 shares in the company, valued at approximately $267,810.09. This trade represents a 20.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 200,766 shares of company stock worth $46,685,646. 20.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds have recently modified their holdings of AXSM. Pictet Asset Management Holding SA lifted its holdings in Axsome Therapeutics by 20.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 436,063 shares of the company’s stock worth $79,643,000 after acquiring an additional 73,925 shares during the period. Norges Bank bought a new position in Axsome Therapeutics in the 4th quarter valued at $90,490,000. Axiom Investors LLC DE increased its position in shares of Axsome Therapeutics by 28.7% during the 4th quarter. Axiom Investors LLC DE now owns 63,390 shares of the company’s stock valued at $11,578,000 after purchasing an additional 14,137 shares during the last quarter. M&T Bank Corp increased its position in shares of Axsome Therapeutics by 2,553.8% during the 4th quarter. M&T Bank Corp now owns 49,466 shares of the company’s stock valued at $8,277,000 after purchasing an additional 47,602 shares during the last quarter. Finally, Legato Capital Management LLC raised its stake in shares of Axsome Therapeutics by 90.6% during the 4th quarter. Legato Capital Management LLC now owns 9,627 shares of the company’s stock worth $1,758,000 after purchasing an additional 4,576 shares during the period. 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.