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

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They currently have a $200.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 102.31% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft assumed coverage on Axsome Therapeutics in a research report on Tuesday, February 11th. They set a “buy” rating and a $176.00 price target on the stock. Leerink Partners lifted their price objective on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Truist Financial boosted their price objective on Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Mizuho increased their target price on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the stock an “outperform” rating in a research report on Thursday, March 27th. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.64.

Axsome Therapeutics Trading Down 8.4 %

NASDAQ AXSM opened at $98.86 on Thursday. The business’s fifty day moving average is $120.62 and its 200-day moving average is $101.67. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of -16.50 and a beta of 0.88. Axsome Therapeutics has a one year low of $64.11 and a one year high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. The business had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. Equities research analysts predict that Axsome Therapeutics will post -2.79 EPS for the current year.

Insider Activity

In other 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 transaction of $393,210.00. Following the completion of the sale, the chief financial officer now owns 42,187 shares in the company, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Boxer Capital Management LLC purchased a new position in Axsome Therapeutics in the 4th quarter worth approximately $39,767,000. Lazard Asset Management LLC lifted its holdings in shares of Axsome Therapeutics by 525.7% during the 4th quarter. Lazard Asset Management LLC now owns 537,669 shares of the company’s stock worth $45,492,000 after acquiring an additional 451,737 shares during the last quarter. Norges Bank purchased a new position in Axsome Therapeutics in the fourth quarter worth $34,100,000. BVF Inc. IL increased its stake in Axsome Therapeutics by 32.7% in the fourth 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 during the last quarter. Finally, Principal Financial Group Inc. raised its position in Axsome Therapeutics by 6,002.7% during the fourth quarter. Principal Financial Group Inc. now owns 207,065 shares of the company’s stock valued at $17,520,000 after purchasing an additional 203,672 shares in the last quarter. 81.49% of the stock is currently 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.