Axsome Therapeutics (NASDAQ:AXSM) Stock Rating Upgraded by StockNews.com

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

A number of other research analysts have also issued reports on the company. UBS Group lowered their target price on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Wells Fargo & Company initiated coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective on the stock. Robert W. Baird raised their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Royal Bank of Canada lifted their price target on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Bank of America upgraded Axsome Therapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $95.00 to $106.00 in a research report on Tuesday, August 6th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $124.93.

Axsome Therapeutics Stock Up 3.8 %

Axsome Therapeutics stock opened at $98.19 on Wednesday. Axsome Therapeutics has a 52 week low of $59.09 and a 52 week high of $105.00. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of -14.49 and a beta of 1.26. The company’s 50-day moving average price is $90.76 and its two-hundred day moving average price is $84.76. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping the consensus estimate of ($1.38) by $0.04. The firm had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same quarter in the previous year, the company earned ($1.32) earnings per share. On average, analysts expect that Axsome Therapeutics will post -4.75 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction 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 transaction, the director now owns 10,002 shares in the company, valued at $913,282.62. This represents a 52.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 22.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. bought a new position in Axsome Therapeutics during the second quarter valued at about $27,000. EntryPoint Capital LLC acquired a new stake in Axsome Therapeutics in the 1st quarter worth approximately $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Axsome Therapeutics in the 2nd quarter worth approximately $47,000. Russell Investments Group Ltd. boosted its position in Axsome Therapeutics by 5,550.0% during the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after purchasing an additional 777 shares during the period. Finally, Covestor Ltd grew its holdings in Axsome Therapeutics by 54,750.0% during the first quarter. Covestor Ltd now owns 1,097 shares of the company’s stock valued at $88,000 after purchasing an additional 1,095 shares during the last quarter. Institutional investors and hedge funds 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.