Axsome Therapeutics (NASDAQ:AXSM) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of Axsome Therapeutics (NASDAQ:AXSM) from a sell rating to a hold rating in a research note published on Tuesday.

A number of other analysts also recently issued reports on the stock. Mizuho reaffirmed a buy rating and set a $106.00 price target on shares of Axsome Therapeutics in a report on Wednesday, June 12th. UBS Group lowered their price objective on shares of Axsome Therapeutics from $107.00 to $105.00 and set a buy rating on the stock in a research note on Tuesday, August 6th. Cantor Fitzgerald reiterated an overweight rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a research note on Monday, September 16th. Wells Fargo & Company began coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an overweight rating and a $140.00 price objective on the stock. Finally, HC Wainwright reiterated a buy rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Axsome Therapeutics has an average rating of Moderate Buy and a consensus target price of $124.57.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM opened at $91.18 on Tuesday. The firm’s 50-day moving average price is $88.93 and its 200-day moving average price is $80.68. The company has a quick ratio of 2.40, a current ratio of 2.48 and a debt-to-equity ratio of 1.77. The company has a market cap of $4.33 billion, a PE ratio of -14.29 and a beta of 1.25. Axsome Therapeutics has a 52-week low of $55.02 and a 52-week high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Monday, August 5th. The company reported ($1.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.30) by $0.06. The firm had revenue of $87.17 million for the quarter, compared to the consensus estimate of $84.53 million. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. As a group, analysts anticipate that Axsome Therapeutics will post -4.73 EPS for the current year.

Insiders Place Their Bets

In other news, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the sale, the director now owns 10,002 shares in the company, valued at $913,282.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the sale, the director now owns 10,002 shares in the company, valued at $913,282.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Mark L. Jacobson sold 47,739 shares of Axsome Therapeutics stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the sale, the chief operating officer now owns 5,783 shares in the company, valued at approximately $487,275.58. The disclosure for this sale can be found here. 22.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AXSM. Norges Bank purchased a new position in shares of Axsome Therapeutics in the fourth quarter valued at $15,530,000. TD Asset Management Inc purchased a new position in shares of Axsome Therapeutics in the fourth quarter valued at $1,273,000. CIBC Private Wealth Group LLC grew its holdings in shares of 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 purchasing an additional 135 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new position in shares of Axsome Therapeutics in the fourth quarter valued at $4,473,000. Finally, Bellevue Group AG grew its holdings in shares of Axsome Therapeutics by 0.6% in the fourth quarter. Bellevue Group AG now owns 635,372 shares of the company’s stock valued at $50,569,000 after purchasing an additional 3,885 shares in 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.