BMO Capital Markets Upgrades Axsome Therapeutics (NASDAQ:AXSM) to Strong-Buy

Axsome Therapeutics (NASDAQ:AXSM) was upgraded by equities research analysts at BMO Capital Markets to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research analysts also recently weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of Axsome Therapeutics from $302.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. HC Wainwright reissued a “buy” rating and set a $290.00 target price on shares of Axsome Therapeutics in a research report on Wednesday, July 15th. Wells Fargo & Company upped their target price on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. UBS Group raised their price target on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a research report on Friday, April 10th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price target on shares of Axsome Therapeutics in a research note on Thursday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $261.48.

Axsome Therapeutics Stock Up 6.9%

Axsome Therapeutics stock opened at $236.95 on Monday. 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 company has a market capitalization of $12.19 billion, a PE ratio of -63.53 and a beta of 0.60. The firm’s fifty day moving average is $238.71 and its 200 day moving average is $199.47. Axsome Therapeutics has a 12-month low of $96.09 and a 12-month high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $191.20 million for the quarter, compared to the consensus estimate of $191.10 million. The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. As a group, sell-side analysts predict that Axsome Therapeutics will post -2.45 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 33,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the transaction, the chief financial officer directly owned 42,867 shares in the company, valued at approximately $10,291,938.03. The trade was a 43.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Mark L. Jacobson sold 4,517 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $227.94, for a total transaction of $1,029,604.98. Following the completion of the sale, the chief operating officer directly owned 4,517 shares of the company’s stock, valued at $1,029,604.98. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 155,852 shares of company stock valued at $37,230,112 over the last three months. Insiders own 20.60% of the company’s stock.

Institutional Trading of Axsome Therapeutics

A number of large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Axsome Therapeutics by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,923 shares of the company’s stock valued at $2,557,000 after buying an additional 1,002 shares during the period. Jones Financial Companies Lllp increased its holdings in Axsome Therapeutics by 2,407.9% in the 1st quarter. Jones Financial Companies Lllp now owns 7,624 shares of the company’s stock worth $889,000 after acquiring an additional 7,320 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Axsome Therapeutics by 38.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 301,718 shares of the company’s stock worth $35,189,000 after acquiring an additional 84,151 shares during the last quarter. Caxton Associates LLP bought a new stake in Axsome Therapeutics in the 1st quarter valued at about $307,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Axsome Therapeutics by 29.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,892 shares of the company’s stock valued at $8,735,000 after acquiring an additional 17,250 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Company Profile

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.