Zacks Research Upgrades Axsome Therapeutics (NASDAQ:AXSM) to “Hold”

Axsome Therapeutics (NASDAQ:AXSM) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Oppenheimer set a $280.00 price target on Axsome Therapeutics in a research note on Monday, May 4th. UBS Group initiated coverage on Axsome Therapeutics in a report on Tuesday, August 11th. They issued a “market perform” rating on the stock. Mizuho increased their price objective on Axsome Therapeutics from $306.00 to $316.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Needham & Company LLC raised their target price on Axsome Therapeutics from $267.00 to $268.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Finally, Deutsche Bank Aktiengesellschaft set a $280.00 target price on Axsome Therapeutics in a research note on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $267.60.

Axsome Therapeutics Price Performance

Shares of AXSM opened at $218.20 on Tuesday. Axsome Therapeutics has a twelve month low of $111.54 and a twelve month high of $260.19. The firm’s fifty day simple moving average is $233.99 and its 200-day simple moving average is $205.84. 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 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 issued its earnings results on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). The firm had revenue of $218.38 million for the quarter, compared to analyst estimates of $221.11 million. Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%. Equities analysts forecast that Axsome Therapeutics will post -2.78 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 33,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the transaction, the chief financial officer owned 42,867 shares of the company’s stock, valued at approximately $10,291,938.03. This trade represents a 43.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Herriot Tabuteau sold 49,670 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $241.01, for a total value of $11,970,966.70. Following the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,742,261.29. The trade was a 87.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 200,766 shares of company stock worth $46,685,646. Insiders own 20.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Axsome Therapeutics by 14.9% in the second quarter. GAMMA Investing LLC now owns 347 shares of the company’s stock valued at $85,000 after buying an additional 45 shares during the last quarter. Birchview Capital LP boosted its holdings in shares of Axsome Therapeutics by 1.0% in the fourth quarter. Birchview Capital LP now owns 6,061 shares of the company’s stock valued at $1,107,000 after acquiring an additional 61 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Axsome Therapeutics by 3.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company’s stock worth $351,000 after acquiring an additional 65 shares during the last quarter. Xponance LLC grew its position in shares of Axsome Therapeutics by 2.4% during the fourth quarter. Xponance LLC now owns 3,265 shares of the company’s stock worth $596,000 after acquiring an additional 76 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Axsome Therapeutics by 7.2% in the 1st quarter. Assetmark Inc. now owns 1,182 shares of the company’s stock valued at $200,000 after acquiring an additional 79 shares during the period. Institutional investors and hedge funds 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.