Axsome Therapeutics (NASDAQ:AXSM) Shares Gap Down – Time to Sell?

Axsome Therapeutics, Inc. (NASDAQ:AXSM) shares gapped down before the market opened on Tuesday . The stock had previously closed at $116.63, but opened at $112.43. Axsome Therapeutics shares last traded at $107.13, with a volume of 241,275 shares changing hands.

Wall Street Analysts Forecast Growth

AXSM has been the topic of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $200.00 target price on shares of Axsome Therapeutics in a research report on Thursday, March 6th. Morgan Stanley increased their target price on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Truist Financial boosted their target price on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Mizuho upped their target price on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an “outperform” rating in a research report on Thursday, March 27th. Finally, Wells Fargo & Company raised their price target on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $167.64.

Axsome Therapeutics Trading Down 1.7 %

The business’s 50-day simple moving average is $120.62 and its 200-day simple moving average is $101.58. The company has a market cap of $5.35 billion, a price-to-earnings ratio of -18.32 and a beta of 0.88. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. The business had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. Research analysts predict that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the transaction, the chief financial officer now directly owns 42,187 shares in the company, valued at $5,529,450.09. This represents a 6.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Several institutional investors have recently made changes to their positions in AXSM. BVF Inc. IL lifted its stake in shares of Axsome Therapeutics by 32.7% in the 4th quarter. BVF Inc. IL now owns 1,388,064 shares of the company’s stock valued at $117,444,000 after purchasing an additional 342,064 shares in the last quarter. FMR LLC raised its stake in shares of Axsome Therapeutics by 20.6% in the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after purchasing an additional 185,951 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Axsome Therapeutics by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 912,538 shares of the company’s stock worth $77,228,000 after buying an additional 4,079 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Axsome Therapeutics by 1.1% in the third 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. Finally, Invesco Ltd. boosted its holdings in shares of Axsome Therapeutics by 10.8% in the 4th quarter. Invesco Ltd. now owns 692,464 shares of the company’s stock valued at $58,589,000 after buying an additional 67,285 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

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.