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

Cantor Fitzgerald reiterated their overweight rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research report sent to investors on Friday morning, Benzinga reports. They currently have a $107.00 price target on the stock.

AXSM has been the subject of several other research reports. StockNews.com downgraded shares of Axsome Therapeutics from a hold rating to a sell rating in a report on Wednesday, August 14th. 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 objective for the company. HC Wainwright reiterated a buy rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a report on Thursday, September 5th. Mizuho restated a buy rating and set a $106.00 target price on shares of Axsome Therapeutics in a report on Wednesday, June 12th. Finally, UBS Group cut their price target on shares of Axsome Therapeutics from $107.00 to $105.00 and set a buy rating on the stock in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Axsome Therapeutics has an average rating of Moderate Buy and a consensus target price of $124.57.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $94.09 on Friday. The stock has a fifty day simple moving average of $85.71 and a 200-day simple moving average of $78.76. 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 $4.47 billion, a PE ratio of -14.75 and a beta of 1.25. Axsome Therapeutics has a twelve month low of $55.02 and a twelve month high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last posted its 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. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. The company had revenue of $87.17 million for the quarter, compared to analysts’ expectations of $84.53 million. Equities analysts anticipate that Axsome Therapeutics will post -4.72 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Mark L. Jacobson sold 47,739 shares of the firm’s 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 sale, the chief operating officer now directly owns 5,783 shares in the company, valued at approximately $487,275.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 22.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Several large investors have recently bought and sold shares of AXSM. Principal Financial Group Inc. lifted its holdings in Axsome Therapeutics by 1.3% during the 4th quarter. Principal Financial Group Inc. now owns 9,497 shares of the company’s stock worth $756,000 after buying an additional 120 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in Axsome Therapeutics by 0.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 17,999 shares of the company’s stock worth $1,433,000 after purchasing an additional 135 shares during the last quarter. 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 in the last quarter. Arizona State Retirement System increased its stake in Axsome Therapeutics by 2.1% in the second quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock valued at $695,000 after purchasing an additional 177 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Axsome Therapeutics during the second quarter worth approximately $27,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

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.