Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have been given an average recommendation of “Moderate Buy” by the twenty-one brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nineteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $258.95.

A number of research analysts recently weighed in on AXSM shares. Morgan Stanley raised Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a research report on Thursday, June 11th. Guggenheim raised their price objective on Axsome Therapeutics from $245.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Robert W. Baird raised their price objective on Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. HC Wainwright reissued a “buy” rating on shares of Axsome Therapeutics in a report on Thursday, June 4th. Finally, Truist Financial raised Axsome Therapeutics to a “strong-buy” rating in a report on Monday, June 15th.

Axsome Therapeutics Stock Up 1.5%

AXSM stock opened at $244.77 on Wednesday. Axsome Therapeutics has a twelve month low of $96.09 and a twelve month high of $260.19. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. The firm has a market cap of $12.60 billion, a PE ratio of -65.62 and a beta of 0.61. The business has a 50 day moving average of $227.46 and a 200 day moving average of $190.40.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The company had revenue of $191.20 million for the quarter, compared to the consensus estimate of $191.10 million. The firm’s revenue was up 57.4% on a year-over-year basis. On average, research analysts forecast that Axsome Therapeutics will post -2.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Susan Mahony sold 300 shares of Axsome Therapeutics stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total value of $71,163.00. Following the completion of the sale, the director owned 1,129 shares of the company’s stock, valued at approximately $267,810.09. This trade represents a 20.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Herriot Tabuteau sold 49,670 shares of Axsome Therapeutics stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $241.01, for a total value of $11,970,966.70. Following the completion of the sale, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at approximately $1,742,261.29. The trade was a 87.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 113,686 shares of company stock worth $26,666,006. 20.60% of the stock is owned by corporate insiders.

Institutional Trading of Axsome Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Seven Fleet Capital Management LP increased its holdings in shares of Axsome Therapeutics by 8.5% in the 1st quarter. Seven Fleet Capital Management LP now owns 14,055 shares of the company’s stock worth $2,376,000 after purchasing an additional 1,100 shares in the last quarter. Perceptive Advisors LLC boosted its stake in shares of Axsome Therapeutics by 0.7% in the 1st quarter. Perceptive Advisors LLC now owns 149,950 shares of the company’s stock worth $25,345,000 after buying an additional 1,050 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Axsome Therapeutics by 26.1% in the 1st quarter. Janus Henderson Group PLC now owns 19,052 shares of the company’s stock worth $3,219,000 after buying an additional 3,948 shares during the last quarter. Amundi purchased a new position in shares of Axsome Therapeutics in the 1st quarter worth $498,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Axsome Therapeutics by 48.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 512 shares of the company’s stock worth $87,000 after buying an additional 166 shares during the last quarter. Institutional investors own 81.49% of the company’s stock.

About Axsome Therapeutics

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.