Axsome Therapeutics (NASDAQ:AXSM) Upgraded at StockNews.com

StockNews.com upgraded shares of Axsome Therapeutics (NASDAQ:AXSM) from a sell rating to a hold rating in a research report report published on Tuesday morning.

A number of other research analysts have also weighed in on the company. Robert W. Baird upped their price objective on Axsome Therapeutics from $108.00 to $112.00 and gave the stock an outperform rating in a report on Tuesday, May 7th. Royal Bank of Canada dropped their price objective on Axsome Therapeutics from $131.00 to $130.00 and set an outperform rating on the stock in a report on Tuesday. Citigroup dropped their price objective on Axsome Therapeutics from $127.00 to $125.00 and set a buy rating on the stock in a report on Tuesday, May 7th. Bank of America upgraded Axsome Therapeutics from a neutral rating to a buy rating and boosted their target price for the stock from $95.00 to $106.00 in a research report on Tuesday. Finally, Cantor Fitzgerald reiterated an overweight rating and set a $107.00 target price on shares of Axsome Therapeutics in a research report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $123.38.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM traded down $1.91 during trading on Tuesday, reaching $83.09. The company had a trading volume of 428,591 shares, compared to its average volume of 699,726. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of -13.02 and a beta of 1.26. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.20 and a quick ratio of 3.09. The stock’s fifty day moving average price is $80.16 and its 200 day moving average price is $79.45. Axsome Therapeutics has a fifty-two week low of $55.02 and a fifty-two week high of $98.40.

Insider Activity

In related news, Director Mark Coleman sold 5,249 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $75.21, for a total value of $394,777.29. Following the completion of the transaction, the director now directly owns 19,848 shares in the company, valued at $1,492,768.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Axsome Therapeutics news, Director Mark Coleman sold 5,249 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $75.21, for a total transaction of $394,777.29. Following the completion of the sale, the director now directly owns 19,848 shares in the company, valued at $1,492,768.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mark L. Jacobson sold 47,739 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now owns 5,783 shares of the company’s stock, valued at $487,275.58. The disclosure for this sale can be found here. Insiders have sold 60,898 shares of company stock worth $5,005,058 over the last three months. 22.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Axsome Therapeutics

A number of large investors have recently modified their holdings of AXSM. EntryPoint Capital LLC purchased a new position in Axsome Therapeutics in the first quarter valued at about $35,000. Russell Investments Group Ltd. boosted its holdings in Axsome Therapeutics by 5,550.0% in the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after purchasing an additional 777 shares during the last quarter. Covestor Ltd boosted its holdings in Axsome Therapeutics by 54,750.0% in the first quarter. Covestor Ltd now owns 1,097 shares of the company’s stock valued at $88,000 after purchasing an additional 1,095 shares during the last quarter. Janiczek Wealth Management LLC purchased a new position in Axsome Therapeutics in the first quarter valued at about $97,000. Finally, Natixis boosted its holdings in Axsome Therapeutics by 13.6% in the first quarter. Natixis now owns 1,235 shares of the company’s stock valued at $99,000 after purchasing an additional 148 shares during the last quarter. Institutional investors and hedge funds 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.