Axsome Therapeutics’ (AXSM) “Overweight” Rating Reiterated at Cantor Fitzgerald

by · The Markets Daily

Cantor Fitzgerald reaffirmed their overweight rating on shares of Axsome Therapeutics (NASDAQ:AXSM – Free Report) in a report released on Monday, Benzinga reports. The brokerage currently has a $107.00 price target on the stock.

Several other research firms also recently issued reports on AXSM. Bank of America raised Axsome Therapeutics from a neutral rating to a buy rating and upped their target price for the company from $95.00 to $106.00 in a research report on Tuesday, August 6th. Royal Bank of Canada reduced their price objective on shares of Axsome Therapeutics from $131.00 to $130.00 and set an outperform rating for the company in a research report on Tuesday, August 6th. Mizuho reissued a buy rating and issued a $106.00 price objective on shares of Axsome Therapeutics in a research note on Wednesday, June 12th. HC Wainwright reaffirmed a buy rating and issued a $180.00 price target on shares of Axsome Therapeutics in a report on Thursday, September 5th. Finally, Wells Fargo & Company began coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an overweight rating and a $140.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $124.57.

View Our Latest Stock Analysis on AXSM

Axsome Therapeutics Trading Up 0.7 %

NASDAQ AXSM opened at $91.54 on Monday. The company has a current ratio of 2.48, a quick ratio of 2.40 and a debt-to-equity ratio of 1.77. The stock has a market cap of $4.35 billion, a PE ratio of -14.35 and a beta of 1.25. The company’s 50-day moving average price is $87.47 and its 200-day moving average price is $79.37. Axsome Therapeutics has a 12 month low of $55.02 and a 12 month high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM – Get Free Report) last issued its earnings results on Monday, August 5th. The company reported ($1.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.30) by $0.06. The company had revenue of $87.17 million for the quarter, compared to analysts’ expectations of $84.53 million. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. Equities research analysts forecast that Axsome Therapeutics will post -4.73 earnings per share for the current year.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 47,739 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was 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 in the company, valued at approximately $487,275.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Mark L. Jacobson sold 47,739 shares of Axsome Therapeutics stock in a transaction 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 sale, the chief operating officer now owns 5,783 shares in the company, valued at $487,275.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 10,002 shares in the company, valued at approximately $913,282.62. The disclosure for this sale can be found here. 22.40% of the stock is owned by company insiders.

Institutional Trading of Axsome Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in AXSM. Vanguard Group Inc. increased its stake in shares of Axsome Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock valued at $298,474,000 after purchasing an additional 43,512 shares during the period. Perceptive Advisors LLC increased its position in Axsome Therapeutics by 115.5% in the 4th quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock valued at $82,616,000 after acquiring an additional 556,370 shares during the period. Point72 Asset Management L.P. increased its position in Axsome Therapeutics by 57.4% in the 4th quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock valued at $66,633,000 after acquiring an additional 305,264 shares during the period. Millennium Management LLC raised its stake in Axsome Therapeutics by 1.4% during the 2nd quarter. Millennium Management LLC now owns 739,819 shares of the company’s stock valued at $59,555,000 after acquiring an additional 10,401 shares in the last quarter. Finally, Bellevue Group AG boosted its position in Axsome Therapeutics by 7.9% during the 1st quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock worth $54,701,000 after acquiring an additional 50,104 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Company Profile

(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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