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

by · The Markets Daily

Axsome Therapeutics, Inc. (NASDAQ:AXSM – Get Free Report) has received an average rating of “Buy” from the fourteen brokerages that are presently covering the stock, Marketbeat.com reports. Fourteen equities research analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have covered the stock in the last year is $124.64.

Several research firms have recently commented on AXSM. UBS Group decreased their price objective on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, October 1st. Needham & Company LLC reissued a “buy” rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Cantor Fitzgerald restated an “overweight” rating and set a $107.00 target price on shares of Axsome Therapeutics in a research note on Monday, September 16th. Finally, HC Wainwright reiterated a “buy” rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research note on Thursday, September 5th.

View Our Latest Analysis on AXSM

Axsome Therapeutics Trading Down 0.3 %

Shares of Axsome Therapeutics stock opened at $90.70 on Friday. Axsome Therapeutics has a 1-year low of $55.02 and a 1-year high of $98.40. The company’s fifty day simple moving average is $90.28 and its 200-day simple moving average is $83.32. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.48 and a quick ratio of 2.40. The stock has a market capitalization of $4.31 billion, a PE ratio of -13.93 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM – Get Free Report) last released its earnings results on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, beating the consensus estimate of ($1.30) by $0.06. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. The company had revenue of $87.17 million for the quarter, compared to the consensus estimate of $84.53 million. As a group, equities analysts anticipate that Axsome Therapeutics will post -5.12 earnings per share for the current year.

Insider Buying and Selling

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 10,002 shares in the company, valued at $913,282.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 22.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Sofinnova Investments Inc. purchased a new stake in shares of Axsome Therapeutics during the 2nd quarter valued at about $24,971,000. Tri Locum Partners LP raised its position in Axsome Therapeutics by 198.4% during the second quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock valued at $24,674,000 after purchasing an additional 203,802 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Axsome Therapeutics in the 1st quarter valued at approximately $11,036,000. Hood River Capital Management LLC lifted its stake in shares of Axsome Therapeutics by 32.6% in the 1st quarter. Hood River Capital Management LLC now owns 520,750 shares of the company’s stock valued at $41,556,000 after purchasing an additional 127,997 shares during the last quarter. Finally, Affinity Asset Advisors LLC boosted its holdings in shares of Axsome Therapeutics by 179.5% in the 1st quarter. Affinity Asset Advisors LLC now owns 139,758 shares of the company’s stock worth $11,153,000 after purchasing an additional 89,758 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

About Axsome Therapeutics

(Get Free Report

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.

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