Axsome Therapeutics, Inc. (NASDAQ:AXSM) Stock Has Average Target Price of $275.84

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have been given a consensus recommendation of “Moderate Buy” by the twenty-one analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seventeen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $275.74.

Several research analysts have recently weighed in on AXSM shares. Guggenheim boosted their price objective on shares of Axsome Therapeutics from $260.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. TD Cowen raised their target price on shares of Axsome Therapeutics from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Axsome Therapeutics from $280.00 to $267.00 and set a “buy” rating for the company in a research report on Tuesday, September 29th. Wells Fargo & Company increased their price target on Axsome Therapeutics from $255.00 to $256.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Finally, Royal Bank Of Canada dropped their price target on Axsome Therapeutics from $297.00 to $295.00 and set an “outperform” rating on the stock in a research note on Thursday.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 45,004 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $212.01, for a total transaction of $9,541,298.04. Following the completion of the sale, the chief executive officer directly owned 7,229 shares in the company, valued at $1,532,620.29. The trade was a 86.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Mark Jacobson sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $208.65, for a total value of $2,086,500.00. Following the sale, the chief operating officer owned 10,000 shares of the company’s stock, valued at approximately $2,086,500. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 59,664 shares of company stock worth $12,624,805. 20.60% of the stock is owned by corporate insiders.

Institutional Trading of Axsome Therapeutics

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Axsome Therapeutics in the second quarter worth approximately $759,695,000. Geode Capital Management LLC boosted its stake in shares of Axsome Therapeutics by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company’s stock worth $184,544,000 after acquiring an additional 12,549 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Axsome Therapeutics by 85.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 865,958 shares of the company’s stock valued at $146,364,000 after acquiring an additional 397,976 shares during the period. First Trust Advisors LP grew its position in shares of Axsome Therapeutics by 1,230.2% during the 1st quarter. First Trust Advisors LP now owns 577,479 shares of the company’s stock valued at $97,606,000 after acquiring an additional 534,066 shares during the period. Finally, Norges Bank bought a new stake in shares of Axsome Therapeutics during the 4th quarter valued at $90,490,000. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Trading Down 1.7%

Axsome Therapeutics stock opened at $170.08 on Friday. Axsome Therapeutics has a one year low of $118.71 and a one year high of $260.19. The business’s fifty day moving average is $203.92 and its 200 day moving average is $212.87. The stock has a market capitalization of $8.91 billion, a PE ratio of -45.35 and a beta of 0.86. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.43 and a quick ratio of 1.34.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Monday, August 10th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). The business had revenue of $218.38 million during the quarter, compared to analysts’ expectations of $221.11 million. Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%. On average, sell-side analysts predict that Axsome Therapeutics will post -2.92 EPS for the current year.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. The company uses differentiated product candidates and targeted mechanisms to address conditions with significant unmet medical needs, including depression, sleep disorders, migraine, and other neurological or psychiatric diseases.

Axsome’s lead commercial product is Auvelity (dextromethorphan hydrobromide and bupropion hydrochloride), an oral medicine approved in the United States for the treatment of major depressive disorder in adults.