HC Wainwright Reiterates “Buy” Rating for Axsome Therapeutics (NASDAQ:AXSM)

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They presently have a $180.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 85.51% from the company’s current price.

A number of other 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 report on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 price target on shares of Axsome Therapeutics in a report on Monday, September 16th. Wells Fargo & Company began coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $130.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, November 12th. Finally, UBS Group dropped their target price on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $124.93.

Axsome Therapeutics Stock Down 0.5 %

Shares of NASDAQ:AXSM opened at $97.03 on Monday. Axsome Therapeutics has a fifty-two week low of $61.14 and a fifty-two week high of $105.00. The firm’s 50 day moving average price is $91.09 and its 200 day moving average price is $85.30. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of -14.93 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. The business had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same period last year, the business earned ($1.32) EPS. As a group, equities research analysts predict that Axsome Therapeutics will post -4.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the transaction, the director now directly owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. The trade was a 52.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Axsome Therapeutics in the second quarter valued at approximately $27,000. EntryPoint Capital LLC acquired a new position in shares of Axsome Therapeutics during the 1st quarter worth $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Axsome Therapeutics during the 2nd quarter valued at about $47,000. Russell Investments Group Ltd. lifted its holdings in shares of Axsome Therapeutics by 5,550.0% in the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after purchasing an additional 777 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Axsome Therapeutics by 22.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after purchasing an additional 318 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.