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

Axsome Therapeutics (NASDAQ:AXSM) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

Several other research analysts also recently issued reports on AXSM. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $95.00 to $106.00 in a research note on Tuesday, August 6th. UBS Group cut their price objective on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Needham & Company LLC reiterated a “buy” rating and set a $130.00 target price on shares of Axsome Therapeutics in a report on Thursday, September 5th. Royal Bank of Canada cut their price target on Axsome Therapeutics from $131.00 to $130.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. Finally, Mizuho reaffirmed a “buy” rating and set a $106.00 price objective on shares of Axsome Therapeutics in a research note on Wednesday, June 12th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.57.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM traded up $0.64 during midday trading on Tuesday, hitting $90.51. The stock had a trading volume of 537,312 shares, compared to its average volume of 643,952. Axsome Therapeutics has a 1 year low of $55.02 and a 1 year high of $98.40. The company has a current ratio of 2.48, a quick ratio of 2.40 and a debt-to-equity ratio of 1.77. The stock has a 50 day moving average price of $88.68 and a two-hundred day moving average price of $80.49. The company has a market capitalization of $4.30 billion, a PE ratio of -14.19 and a beta of 1.25.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.06. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. The firm had revenue of $87.17 million for the quarter, compared to analyst estimates of $84.53 million. As a group, equities analysts predict that Axsome Therapeutics will post -4.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 47,739 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the transaction, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at approximately $487,275.58. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the sale, the director now directly owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Mark L. Jacobson sold 47,739 shares of Axsome Therapeutics stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the transaction, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at approximately $487,275.58. The disclosure for this sale can be found here. 22.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Axsome Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. bought a new position in Axsome Therapeutics in the 2nd quarter worth approximately $27,000. EntryPoint Capital LLC bought a new stake in shares of Axsome Therapeutics during the first quarter valued at about $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Axsome Therapeutics in the second quarter worth about $47,000. Russell Investments Group Ltd. grew its position in Axsome Therapeutics by 5,550.0% in the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after buying an additional 777 shares in the last quarter. Finally, Covestor Ltd grew its position in Axsome Therapeutics by 54,750.0% in the 1st quarter. Covestor Ltd now owns 1,097 shares of the company’s stock valued at $88,000 after buying an additional 1,095 shares in the last quarter. 81.49% of the stock is currently owned by 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.