Axsome Therapeutics (NASDAQ:AXSM) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of Axsome Therapeutics (NASDAQ:AXSM) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

A number of other analysts also recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 price target on shares of Axsome Therapeutics in a report on Monday, September 16th. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and raised their target price for the company from $95.00 to $106.00 in a report on Tuesday, August 6th. Royal Bank of Canada boosted their price target on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday. Finally, Wells Fargo & Company assumed coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 target price for the company. One research analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $124.93.

Axsome Therapeutics Price Performance

Shares of Axsome Therapeutics stock opened at $97.37 on Tuesday. The company has a quick ratio of 2.40, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of -14.96 and a beta of 1.26. Axsome Therapeutics has a twelve month low of $56.66 and a twelve month high of $105.00. The company has a 50-day simple moving average of $90.59 and a two-hundred day simple moving average of $84.05.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The company had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $98.71 million. During the same quarter last year, the business earned ($1.32) earnings per share. Analysts forecast that Axsome Therapeutics will post -5.12 EPS for the current year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, 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 transaction, the director now owns 10,002 shares in the company, valued at approximately $913,282.62. This trade represents a 52.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 22.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Institutional investors have recently modified their holdings of the company. Sofinnova Investments Inc. acquired a new position in Axsome Therapeutics in the second quarter valued at $24,971,000. Tri Locum Partners LP lifted its stake in shares of Axsome Therapeutics by 198.4% in the 2nd quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock valued at $24,674,000 after purchasing an additional 203,802 shares during the period. FMR LLC lifted its stake in shares of Axsome Therapeutics by 20.6% in the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after purchasing an additional 185,951 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Axsome Therapeutics during the 1st quarter valued at about $11,036,000. Finally, Hood River Capital Management LLC increased its holdings in Axsome Therapeutics by 32.6% in the first quarter. Hood River Capital Management LLC now owns 520,750 shares of the company’s stock worth $41,556,000 after purchasing an additional 127,997 shares in the last quarter. 81.49% of the stock is owned by institutional investors.

About Axsome Therapeutics

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.