Axsome Therapeutics (NASDAQ:AXSM) Receives “Overweight” Rating from Cantor Fitzgerald

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “overweight” rating restated by analysts at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They currently have a $107.00 price target on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 13.93% from the company’s current price.

A number of other brokerages also recently weighed in on AXSM. UBS Group lowered their target price on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. HC Wainwright reissued a “buy” rating and set a $180.00 target price on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Mizuho reaffirmed a “buy” rating and issued a $106.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, June 12th. Royal Bank of Canada cut their price objective on shares of Axsome Therapeutics from $131.00 to $130.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Finally, StockNews.com lowered shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.57.

Axsome Therapeutics Trading Up 0.3 %

Shares of NASDAQ:AXSM traded up $0.25 during mid-day trading on Monday, reaching $93.92. 158,575 shares of the company’s stock were exchanged, compared to its average volume of 657,545. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.40 and a current ratio of 2.48. Axsome Therapeutics has a twelve month low of $55.02 and a twelve month high of $98.40. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of -14.72 and a beta of 1.25. The business’s fifty day moving average price is $86.92 and its 200-day moving average price is $79.15.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, August 5th. The company reported ($1.24) 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 analyst estimates of $84.53 million. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. On average, research analysts predict that Axsome Therapeutics will post -4.73 EPS for the current fiscal year.

Insider Transactions at Axsome Therapeutics

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

Hedge Funds Weigh In On Axsome Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of AXSM. Clearbridge Investments LLC grew its holdings in Axsome Therapeutics by 19.5% in the 2nd quarter. Clearbridge Investments LLC now owns 106,767 shares of the company’s stock worth $8,595,000 after acquiring an additional 17,397 shares during the last quarter. Dana Investment Advisors Inc. increased its holdings in Axsome Therapeutics by 3.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 19,724 shares of the company’s stock valued at $1,588,000 after purchasing an additional 697 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in shares of Axsome Therapeutics by 17.1% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 11,354 shares of the company’s stock worth $914,000 after buying an additional 1,656 shares during the last quarter. Quarry LP increased its stake in shares of Axsome Therapeutics by 77.8% during the second quarter. Quarry LP now owns 3,200 shares of the company’s stock valued at $258,000 after buying an additional 1,400 shares during the period. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Axsome Therapeutics during the second quarter valued at approximately $27,000. 81.49% of the stock is currently owned by 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.