Axsome Therapeutics (NASDAQ:AXSM) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $153.00 target price on the stock.

Several other equities analysts have also recently weighed in on AXSM. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Axsome Therapeutics in a research note on Tuesday, February 11th. They issued a “buy” rating and a $176.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $190.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, February 11th. Truist Financial boosted their price objective on Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Royal Bank of Canada upped their price objective on Axsome Therapeutics from $143.00 to $192.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Mizuho lifted their target price on Axsome Therapeutics from $137.00 to $195.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $154.80.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock opened at $126.96 on Wednesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of -19.44 and a beta of 1.05. Axsome Therapeutics has a one year low of $64.11 and a one year high of $134.18. The stock’s 50-day moving average is $99.64 and its 200-day moving average is $94.22.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The firm had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. Equities analysts predict that Axsome Therapeutics will post -4.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the transaction, the chief financial officer now owns 42,187 shares in the company, valued at $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Boxer Capital Management LLC acquired a new position in Axsome Therapeutics during the 4th quarter worth approximately $39,767,000. Lazard Asset Management LLC increased its holdings in shares of Axsome Therapeutics by 525.7% during the fourth quarter. Lazard Asset Management LLC now owns 537,669 shares of the company’s stock worth $45,492,000 after buying an additional 451,737 shares in the last quarter. Norges Bank bought a new position in shares of Axsome Therapeutics in the 4th quarter valued at $34,100,000. BVF Inc. IL boosted its holdings in shares of Axsome Therapeutics by 32.7% during the 4th quarter. BVF Inc. IL now owns 1,388,064 shares of the company’s stock valued at $117,444,000 after acquiring an additional 342,064 shares in the last quarter. Finally, Iron Triangle Partners LP bought a new stake in Axsome Therapeutics during the 3rd quarter worth $22,671,000. 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.