Axsome Therapeutics (NASDAQ:AXSM) Stock Price Up 4.9%

Axsome Therapeutics, Inc. (NASDAQ:AXSM) shares shot up 4.9% on Wednesday . The stock traded as high as $94.99 and last traded at $94.99. 124,407 shares were traded during mid-day trading, a decline of 81% from the average session volume of 641,218 shares. The stock had previously closed at $90.51.

Analysts Set New Price Targets

AXSM has been the topic of several research analyst reports. Mizuho restated a “buy” rating and issued a $106.00 price objective on shares of Axsome Therapeutics in a research note on Wednesday, June 12th. Wells Fargo & Company started coverage on shares of Axsome Therapeutics in a report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price objective on the stock. UBS Group cut their price objective 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. HC Wainwright reissued a “buy” rating and set a $180.00 target price on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price target on shares of Axsome Therapeutics in a report on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.57.

Axsome Therapeutics Trading Up 2.9 %

The firm has a market cap of $4.42 billion, a P/E ratio of -14.19 and a beta of 1.25. The company has a current ratio of 2.48, a quick ratio of 2.40 and a debt-to-equity ratio of 1.77. The company’s fifty day moving average price is $88.77 and its two-hundred day moving average price is $80.59.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, topping the consensus estimate of ($1.30) by $0.06. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. The firm had revenue of $87.17 million for the quarter, compared to analysts’ expectations of $84.53 million. As a group, sell-side analysts predict that Axsome Therapeutics, Inc. will post -4.73 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 47,739 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.26, for a total value of $4,022,488.14. Following the transaction, the chief operating officer now owns 5,783 shares of the company’s stock, valued at $487,275.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO Mark L. Jacobson sold 47,739 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the transaction, the chief operating officer now directly owns 5,783 shares in the company, valued at $487,275.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. The disclosure for this sale can be found here. Insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC boosted its stake in shares of Axsome Therapeutics by 0.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 17,999 shares of the company’s stock valued at $1,433,000 after purchasing an additional 135 shares during the last quarter. Natixis grew its holdings in Axsome Therapeutics by 13.6% during the 1st quarter. Natixis now owns 1,235 shares of the company’s stock worth $99,000 after acquiring an additional 148 shares during the period. Arizona State Retirement System raised its position in shares of Axsome Therapeutics by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock valued at $695,000 after acquiring an additional 177 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Axsome Therapeutics by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 9,773 shares of the company’s stock valued at $780,000 after purchasing an additional 276 shares during the period. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Axsome Therapeutics in the 2nd quarter worth $27,000. 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.