Axsome Therapeutics (NASDAQ:AXSM) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Axsome Therapeutics (NASDAQ:AXSM) from an equal weight rating to an overweight rating in a report published on Monday morning, Marketbeat.com reports. Morgan Stanley currently has $115.00 price objective on the stock, up from their previous price objective of $90.00.

Several other research firms also recently weighed in on AXSM. Truist Financial reiterated a buy rating and issued a $150.00 target price on shares of Axsome Therapeutics in a report on Tuesday, March 26th. Citigroup lifted their target price on shares of Axsome Therapeutics from $125.00 to $127.00 and gave the company a buy rating in a report on Tuesday, March 26th. Piper Sandler lifted their target price on shares of Axsome Therapeutics from $90.00 to $113.00 and gave the company an overweight rating in a report on Tuesday, January 16th. Robert W. Baird started coverage on shares of Axsome Therapeutics in a report on Tuesday, March 19th. They issued an outperform rating and a $108.00 target price for the company. Finally, UBS Group began coverage on shares of Axsome Therapeutics in a report on Tuesday, February 6th. They issued a buy rating and a $111.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Axsome Therapeutics has a consensus rating of Moderate Buy and an average price target of $122.00.

Axsome Therapeutics Stock Up 1.5 %

Shares of NASDAQ AXSM opened at $74.89 on Monday. The company has a 50 day simple moving average of $74.62 and a 200-day simple moving average of $75.37. The company has a market capitalization of $3.56 billion, a P/E ratio of -14.40 and a beta of 1.13. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.63 and a quick ratio of 3.52. Axsome Therapeutics has a 1 year low of $55.02 and a 1 year high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.48. The business had revenue of $71.53 million during the quarter, compared to the consensus estimate of $70.38 million. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. On average, equities research analysts predict that Axsome Therapeutics will post -3.75 earnings per share for the current year.

Insider Transactions at Axsome Therapeutics

In other news, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the completion of the sale, the director now directly owns 120,756 shares of the company’s stock, valued at approximately $8,416,693.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the completion of the sale, the director now directly owns 120,756 shares of the company’s stock, valued at approximately $8,416,693.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Mark L. Jacobson sold 24,662 shares of Axsome Therapeutics stock in a transaction on Monday, April 1st. The stock was sold at an average price of $77.24, for a total transaction of $1,904,892.88. The disclosure for this sale can be found here. Corporate insiders own 24.50% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its position in Axsome Therapeutics by 1.3% in the fourth quarter. Principal Financial Group Inc. now owns 9,497 shares of the company’s stock valued at $756,000 after acquiring an additional 120 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in Axsome Therapeutics by 0.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 17,999 shares of the company’s stock valued at $1,433,000 after acquiring an additional 135 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Axsome Therapeutics by 1.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 18,734 shares of the company’s stock valued at $1,309,000 after acquiring an additional 197 shares during the last quarter. Fifth Third Bancorp lifted its position in Axsome Therapeutics by 100.0% in the third quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its position in Axsome Therapeutics by 4.7% in the third quarter. Rafferty Asset Management LLC now owns 4,560 shares of the company’s stock valued at $319,000 after acquiring an additional 205 shares during the last quarter. 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.