Axsome Therapeutics, Inc. (NASDAQ:AXSM) Given Average Rating of “Moderate Buy” by Brokerages

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has been assigned a consensus rating of “Moderate Buy” from the twenty-two brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, seventeen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $267.60.

Several research firms have commented on AXSM. Wells Fargo & Company raised their price objective on Axsome Therapeutics from $255.00 to $256.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. BMO Capital Markets assumed coverage on Axsome Therapeutics in a report on Monday, July 20th. They set an “outperform” rating and a $310.00 target price on the stock. Guggenheim boosted their target price on shares of Axsome Therapeutics from $260.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 target price on shares of Axsome Therapeutics in a research note on Thursday, June 11th. Finally, Morgan Stanley boosted their price objective on shares of Axsome Therapeutics from $242.00 to $251.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 11th.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $220.75 on Monday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43. The firm has a market capitalization of $11.56 billion, a price-to-earnings ratio of -58.87 and a beta of 0.71. Axsome Therapeutics has a one year low of $112.90 and a one year high of $260.19. The company has a 50 day moving average price of $220.65 and a 200 day moving average price of $208.68.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). The company had revenue of $218.38 million during the quarter, compared to analyst estimates of $221.11 million. Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. Sell-side analysts anticipate that Axsome Therapeutics will post -2.8 EPS for the current year.

Insider Buying and Selling

In other news, CEO Herriot Tabuteau sold 49,666 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $240.25, for a total transaction of $11,932,256.50. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,736,767.25. This represents a 87.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Mark Jacobson sold 10,000 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $208.65, for a total transaction of $2,086,500.00. Following the completion of the sale, the chief operating officer directly owned 10,000 shares in the company, valued at $2,086,500. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 109,330 shares of company stock worth $24,557,062. 20.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AXSM. Kemnay Advisory Services Inc. acquired a new position in Axsome Therapeutics in the fourth quarter worth $31,000. Hollencrest Capital Management raised its holdings in shares of Axsome Therapeutics by 400.0% during the first quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock worth $34,000 after purchasing an additional 160 shares during the period. Ameriflex Group Inc. bought a new position in shares of Axsome Therapeutics in the 4th quarter worth about $37,000. ABS Investment Management LLC acquired a new position in shares of Axsome Therapeutics in the 2nd quarter valued at about $171,339,000. Finally, ABS Direct Equity Fund LLC bought a new stake in shares of Axsome Therapeutics during the 2nd quarter valued at about $60,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

About Axsome Therapeutics

Axsome Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. The company’s research programs address conditions with substantial unmet medical needs, including depression, migraine, narcolepsy, excessive daytime sleepiness, agitation associated with Alzheimer’s disease, and other neurological or psychiatric disorders.

Axsome’s commercial portfolio includes Auvelity, an oral medicine approved in the United States for the treatment of major depressive disorder in adults.