Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives Consensus Recommendation of “Buy” from Analysts

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has received a consensus recommendation of “Buy” from the fifteen ratings firms that are currently covering the company, Marketbeat.com reports. Fifteen investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $167.64.

Several brokerages recently issued reports on AXSM. Leerink Partners boosted their price target on Axsome Therapeutics from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Robert W. Baird increased their price target on shares of Axsome Therapeutics from $132.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft started coverage on shares of Axsome Therapeutics in a research note on Tuesday, February 11th. They set a “buy” rating and a $176.00 price target on the stock. William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a research report on Tuesday, February 18th. Finally, Morgan Stanley lifted their target price on Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, February 27th.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds have recently made changes to their positions in the business. BVF Inc. IL lifted its holdings in Axsome Therapeutics by 32.7% during 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 during the last quarter. FMR LLC raised its holdings in shares of Axsome Therapeutics by 20.6% during the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after buying an additional 185,951 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 stake in Axsome Therapeutics by 1.1% in the third quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock valued at $66,750,000 after buying an additional 8,125 shares in the last quarter. Finally, Invesco Ltd. boosted its stake 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 purchasing an additional 67,285 shares in the last quarter. 81.49% of the stock is owned by institutional investors.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $98.86 on Monday. The company has a fifty day simple moving average of $120.62 and a two-hundred day simple moving average of $101.67. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $139.13. The company has a market cap of $4.82 billion, a price-to-earnings ratio of -16.50 and a beta of 0.88.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) 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 the consensus estimate 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, equities analysts anticipate that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

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.