StockNews.com Downgrades Axsome Therapeutics (NASDAQ:AXSM) to Sell

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

A number of other brokerages have also commented on AXSM. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 price objective on shares of Axsome Therapeutics in a research report on Monday, September 16th. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and upped their price target for the company from $95.00 to $106.00 in a report on Tuesday, August 6th. HC Wainwright reissued a “buy” rating and set a $180.00 price objective on shares of Axsome Therapeutics in a report on Thursday, September 5th. Needham & Company LLC restated a “buy” rating and issued a $130.00 target price on shares of Axsome Therapeutics in a research note on Tuesday. Finally, Wells Fargo & Company initiated coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price target on the stock. One research analyst has rated the stock with a sell rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $124.93.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM opened at $97.83 on Tuesday. Axsome Therapeutics has a 12 month low of $56.66 and a 12 month high of $105.00. The company has a market cap of $4.65 billion, a P/E ratio of -14.98 and a beta of 1.26. The business’s 50 day moving average is $90.59 and its two-hundred day moving average is $84.05. The company has a quick ratio of 2.40, a current ratio of 2.44 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The business had revenue of $104.76 million for the quarter, compared to the consensus estimate of $98.71 million. During the same quarter last year, the company posted ($1.32) earnings per share. On average, equities analysts expect that Axsome Therapeutics will post -5.12 EPS for the current year.

Insider Buying and Selling at Axsome Therapeutics

In other news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the sale, the director now owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Several large investors have recently made changes to their positions in AXSM. Cynosure Group LLC acquired a new position in Axsome Therapeutics during the 3rd quarter worth about $713,000. BNP Paribas Financial Markets raised its stake in shares of Axsome Therapeutics by 71.7% in the third quarter. BNP Paribas Financial Markets now owns 13,733 shares of the company’s stock worth $1,234,000 after acquiring an additional 5,737 shares during the last quarter. FMR LLC lifted its position in shares of Axsome Therapeutics by 20.6% during the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after purchasing an additional 185,951 shares in the last quarter. Loomis Sayles & Co. L P grew its stake in shares of Axsome Therapeutics by 11.0% during the third quarter. Loomis Sayles & Co. L P now owns 298,586 shares of the company’s stock valued at $26,834,000 after purchasing an additional 29,497 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Axsome Therapeutics by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 322,596 shares of the company’s stock valued at $28,992,000 after purchasing an additional 12,778 shares during the last quarter. Institutional investors own 81.49% of the company’s stock.

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.