Axsome Therapeutics (NASDAQ:AXSM) Trading Up 7% – Time to Buy?

Axsome Therapeutics, Inc. (NASDAQ:AXSM) was up 7% on Friday . The stock traded as high as $229.62 and last traded at $225.9180. 213,454 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 742,997 shares. The stock had previously closed at $211.12.

Wall Street Analyst Weigh In

Several analysts recently commented on AXSM shares. Zacks Research upgraded Axsome Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. UBS Group restated a “buy” rating on shares of Axsome Therapeutics in a report on Monday, August 24th. BMO Capital Markets initiated coverage on shares of Axsome Therapeutics in a research note on Monday, July 20th. They set an “outperform” rating and a $310.00 target price on the stock. Morgan Stanley increased their target price on shares of Axsome Therapeutics from $242.00 to $251.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 11th. Finally, Jefferies Financial Group reissued a “buy” rating and issued 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, seventeen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $267.60.

Axsome Therapeutics Stock Performance

The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 1.52. The stock has a 50-day moving average of $221.12 and a 200 day moving average of $208.36. The stock has a market cap of $11.65 billion, a PE ratio of -59.31 and a beta of 0.71.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The firm had revenue of $218.38 million during the quarter, compared to analysts’ expectations of $221.11 million. Equities analysts predict that Axsome Therapeutics, Inc. will post -2.8 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other news, CEO Herriot Tabuteau sold 4,660 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $213.95, for a total value of $997,007.00. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at $1,546,644.55. The trade was a 39.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Mark Jacobson sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $208.65, for a total transaction of $2,086,500.00. Following the sale, the chief operating officer directly owned 10,000 shares of the company’s stock, valued at approximately $2,086,500. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 109,330 shares of company stock valued at $24,557,062 over the last three months. Insiders own 20.60% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in AXSM. Kemnay Advisory Services Inc. acquired a new position in shares of Axsome Therapeutics during the fourth quarter valued at $31,000. Hollencrest Capital Management raised its position in shares of Axsome Therapeutics by 400.0% during the 1st quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock worth $34,000 after buying an additional 160 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Axsome Therapeutics in the 4th quarter worth approximately $37,000. Advisory Services Network LLC acquired a new stake in shares of Axsome Therapeutics in the 3rd quarter worth approximately $40,000. Finally, ABS Direct Equity Fund LLC bought a new position in shares of Axsome Therapeutics in the second quarter valued at approximately $60,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. The company’s research programs address conditions with substantial unmet medical needs, including depression, migraine, narcolepsy, excessive daytime sleepiness, agitation associated with Alzheimer’s disease, and other neurological or psychiatric disorders.

Axsome’s commercial portfolio includes Auvelity, an oral medicine approved in the United States for the treatment of major depressive disorder in adults.