Axsome Therapeutics, Inc. (NASDAQ:AXSM) Given Average Rating of “Buy” by Analysts

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has been given an average rating of “Buy” by the fifteen analysts that are currently covering the company, Marketbeat.com reports. Fifteen research analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $167.36.

Several equities analysts recently issued reports on AXSM shares. Truist Financial boosted their target price on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Morgan Stanley upped their price objective on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Royal Bank of Canada upped their price objective on shares of Axsome Therapeutics from $143.00 to $192.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Wells Fargo & Company upped their price objective on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th.

Axsome Therapeutics Price Performance

AXSM stock opened at $125.10 on Thursday. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of -20.88 and a beta of 0.99. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $139.13. The company’s fifty day simple moving average is $107.34 and its 200 day simple moving average is $97.28.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.01. The business had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. On average, analysts expect that Axsome Therapeutics will post -2.79 earnings per share for the current year.

Insiders Place Their Bets

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. This represents a 6.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 22.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Pitcairn Co. grew its position in shares of Axsome Therapeutics by 3.4% during the 4th quarter. Pitcairn Co. now owns 4,562 shares of the company’s stock valued at $386,000 after acquiring an additional 148 shares during the period. Meridian Wealth Management LLC lifted its stake in shares of Axsome Therapeutics by 0.7% during the 4th quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company’s stock valued at $1,791,000 after buying an additional 150 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of Axsome Therapeutics by 4.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company’s stock valued at $326,000 after buying an additional 162 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Axsome Therapeutics by 1.8% during the 4th quarter. Arizona State Retirement System now owns 9,054 shares of the company’s stock valued at $766,000 after buying an additional 164 shares in the last quarter. Finally, Intrust Bank NA lifted its stake in shares of Axsome Therapeutics by 6.9% during the 4th quarter. Intrust Bank NA now owns 2,823 shares of the company’s stock valued at $239,000 after buying an additional 183 shares in the last quarter. 81.49% of the stock is owned by institutional investors.

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.