Axsome Therapeutics (NASDAQ:AXSM) Rating Increased to Hold at StockNews.com

Axsome Therapeutics (NASDAQ:AXSM) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

Several other equities analysts have also recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $130.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, November 12th. UBS Group lowered their price objective on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Bank of America raised shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $95.00 to $106.00 in a research report on Tuesday, August 6th. Royal Bank of Canada raised their price target on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Wells Fargo & Company started coverage on Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $124.93.

Axsome Therapeutics Trading Up 3.3 %

NASDAQ AXSM opened at $95.46 on Wednesday. The firm has a market cap of $4.63 billion, a PE ratio of -14.62 and a beta of 1.26. Axsome Therapeutics has a 1-year low of $58.61 and a 1-year high of $105.00. The stock has a 50-day moving average of $90.63 and a 200-day moving average of $84.54. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The business had revenue of $104.76 million for the quarter, compared to the consensus estimate of $98.71 million. During the same period in the previous year, the firm earned ($1.32) EPS. As a group, sell-side analysts forecast that Axsome Therapeutics will post -4.75 EPS for the current year.

Insider Activity

In other news, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction on Wednesday, September 11th. The stock was 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 of the company’s stock, valued at $913,282.62. The trade was a 52.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Axsome Therapeutics by 2.7% in the third quarter. Geode Capital Management LLC now owns 908,459 shares of the company’s stock valued at $81,659,000 after buying an additional 23,564 shares during the last quarter. Barclays PLC raised its holdings in Axsome Therapeutics by 279.6% in the 3rd quarter. Barclays PLC now owns 61,785 shares of the company’s stock valued at $5,552,000 after acquiring an additional 45,509 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Axsome Therapeutics by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock worth $66,750,000 after purchasing an additional 8,125 shares during the period. Iron Triangle Partners LP acquired a new stake in shares of Axsome Therapeutics during the third quarter worth $22,671,000. Finally, Erste Asset Management GmbH purchased a new stake in shares of Axsome Therapeutics in the third quarter valued at $986,000. 81.49% of the stock is owned by institutional investors and hedge funds.

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.