Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives Consensus Rating of “Buy” from Brokerages

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have been assigned a consensus rating of “Buy” from the fourteen analysts that are currently covering the firm, MarketBeat reports. Fourteen analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $124.93.

Several research firms have recently commented on AXSM. UBS Group reduced their price target on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Bank of America upgraded shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $95.00 to $106.00 in a research 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 research report on Monday. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a research note on Monday, September 16th. Finally, Wells Fargo & Company initiated coverage on Axsome Therapeutics in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 target price on the stock.

Axsome Therapeutics Trading Down 1.2 %

Shares of AXSM stock opened at $97.50 on Tuesday. The stock has a market capitalization of $4.72 billion, a P/E ratio of -14.93 and a beta of 1.26. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The firm’s 50 day moving average is $90.99 and its 200 day moving average is $85.13. Axsome Therapeutics has a 12-month low of $61.14 and a 12-month high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The company had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. During the same quarter in the previous year, the company posted ($1.32) earnings per share. Research analysts expect that Axsome Therapeutics will post -4.75 earnings per share for the current year.

Insider Buying and Selling

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction dated 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 transaction, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. This represents a 52.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 22.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several large investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. bought a new stake in Axsome Therapeutics in the second quarter worth $27,000. EntryPoint Capital LLC bought a new stake in shares of Axsome Therapeutics in the 1st quarter worth about $35,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Axsome Therapeutics in the 2nd quarter worth about $47,000. Russell Investments Group Ltd. raised its position in shares of Axsome Therapeutics by 5,550.0% during 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, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Axsome Therapeutics by 22.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after acquiring an additional 318 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

About Axsome Therapeutics

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.