Axsome Therapeutics (NASDAQ:AXSM) Stock Rating Upgraded by Bank of America

Bank of America upgraded shares of Axsome Therapeutics (NASDAQ:AXSM) from a neutral rating to a buy rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The firm currently has $106.00 price target on the stock, up from their previous price target of $95.00.

Other equities research analysts have also recently issued research reports about the company. Mizuho reissued a buy rating and issued a $106.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, June 12th. Morgan Stanley raised shares of Axsome Therapeutics from an equal weight rating to an overweight rating and boosted their target price for the stock from $90.00 to $115.00 in a research report on Monday, April 29th. Needham & Company LLC restated a buy rating and set a $130.00 price target on shares of Axsome Therapeutics in a report on Monday. HC Wainwright reaffirmed a buy rating and issued a $190.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, June 6th. Finally, Robert W. Baird increased their target price on shares of Axsome Therapeutics from $108.00 to $112.00 and gave the stock an outperform rating in a research report on Tuesday, May 7th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $123.38.

Axsome Therapeutics Trading Up 1.4 %

Axsome Therapeutics stock opened at $85.00 on Tuesday. Axsome Therapeutics has a 12 month low of $55.02 and a 12 month high of $98.40. The company has a quick ratio of 3.09, a current ratio of 3.20 and a debt-to-equity ratio of 1.25. The stock has a market cap of $4.04 billion, a P/E ratio of -13.32 and a beta of 1.26. The company’s fifty day simple moving average is $79.95 and its 200-day simple moving average is $79.41.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Monday, May 6th. The company reported ($1.09) EPS for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.11. Axsome Therapeutics had a negative return on equity of 87.17% and a negative net margin of 118.07%. The firm had revenue of $75.00 million for the quarter, compared to the consensus estimate of $69.91 million. As a group, sell-side analysts forecast that Axsome Therapeutics will post -4.65 EPS for the current fiscal year.

Insider Transactions at Axsome Therapeutics

In related news, Director Mark Coleman sold 5,249 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.21, for a total transaction of $394,777.29. Following the completion of the sale, the director now owns 19,848 shares in the company, valued at approximately $1,492,768.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, COO Mark L. Jacobson sold 7,910 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total transaction of $587,792.10. Following the sale, the chief operating officer now owns 5,783 shares of the company’s stock, valued at approximately $429,734.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Coleman sold 5,249 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $75.21, for a total transaction of $394,777.29. Following the completion of the transaction, the director now owns 19,848 shares of the company’s stock, valued at approximately $1,492,768.08. The disclosure for this sale can be found here. 22.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Axsome Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EntryPoint Capital LLC bought a new position in Axsome Therapeutics during the first quarter worth about $35,000. Russell Investments Group Ltd. raised its stake in Axsome Therapeutics by 5,550.0% during the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after acquiring an additional 777 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Axsome Therapeutics by 54,750.0% during the first quarter. Covestor Ltd now owns 1,097 shares of the company’s stock valued at $88,000 after acquiring an additional 1,095 shares during the period. Janiczek Wealth Management LLC bought a new stake in shares of Axsome Therapeutics in the 1st quarter worth about $97,000. Finally, Natixis increased its position in shares of Axsome Therapeutics by 13.6% during the 1st quarter. Natixis now owns 1,235 shares of the company’s stock worth $99,000 after purchasing an additional 148 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

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.