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

Axsome Therapeutics, Inc. (NASDAQ:AXSM) gapped down prior to trading 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.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. William Blair restated an “outperform” rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Royal Bank of Canada upped their price target on Axsome Therapeutics from $143.00 to $192.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Wells Fargo & Company lifted their price objective on Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Mizuho increased their target price on Axsome Therapeutics from $212.00 to $216.00 and gave the stock an “outperform” rating in a research note on Thursday, March 27th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $200.00 target price on shares of Axsome Therapeutics in a research report on Thursday, March 6th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $167.64.

Axsome Therapeutics Stock Performance

The stock has a market cap of $5.41 billion, a PE ratio of -18.46 and a beta of 1.00. The firm’s 50-day moving average is $120.16 and its 200 day moving average is $101.40. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11.

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

Insider Buying and Selling

In other news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Pitcairn Co. grew its stake in shares of Axsome Therapeutics by 3.4% during the 4th quarter. Pitcairn Co. now owns 4,562 shares of the company’s stock worth $386,000 after purchasing an additional 148 shares during the period. Meridian Wealth Management LLC boosted its holdings in Axsome Therapeutics by 0.7% during the fourth quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company’s stock worth $1,791,000 after buying an additional 150 shares in the last quarter. Summit Investment Advisors Inc. grew its position in Axsome Therapeutics by 4.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company’s stock worth $326,000 after buying an additional 162 shares during the period. Arizona State Retirement System lifted its position in shares of Axsome Therapeutics by 1.8% during the 4th quarter. Arizona State Retirement System now owns 9,054 shares of the company’s stock valued at $766,000 after acquiring an additional 164 shares during the period. Finally, Intrust Bank NA boosted its stake in shares of Axsome Therapeutics by 6.9% during the 4th quarter. Intrust Bank NA now owns 2,823 shares of the company’s stock worth $239,000 after acquiring an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.