Axsome Therapeutics’ (AXSM) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research note published on Monday morning, Benzinga reports. The firm currently has a $107.00 target price on the stock.

AXSM has been the topic of a number of other reports. StockNews.com cut Axsome Therapeutics from a hold rating to a sell rating in a research note on Wednesday, August 14th. Royal Bank of Canada reduced their price target on Axsome Therapeutics from $131.00 to $130.00 and set an outperform rating on the stock in a research report on Tuesday, August 6th. 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. HC Wainwright reissued a buy rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $130.00 target price on shares of Axsome Therapeutics in a research note on Thursday, September 5th. One 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, Axsome Therapeutics currently has a consensus rating of Moderate Buy and a consensus price target of $124.57.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $94.32 on Monday. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of -14.78 and a beta of 1.25. The business has a 50 day moving average of $87.67 and a 200 day moving average of $79.48. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.48 and a quick ratio of 2.40. Axsome Therapeutics has a 1-year low of $55.02 and a 1-year high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, topping 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 firm had revenue of $87.17 million during the quarter, compared to analyst estimates of $84.53 million. On average, sell-side analysts predict that Axsome Therapeutics will post -4.73 earnings per share for the current fiscal year.

Insider Transactions at Axsome Therapeutics

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of AXSM. Northwestern Mutual Wealth Management Co. bought a new position in Axsome Therapeutics during the 2nd quarter valued at approximately $27,000. EntryPoint Capital LLC bought a new stake in Axsome Therapeutics during the 1st quarter valued at about $35,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Axsome Therapeutics during the second quarter valued at approximately $47,000. Russell Investments Group Ltd. raised its stake in shares of Axsome Therapeutics by 5,550.0% in the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after purchasing an additional 777 shares during the last quarter. Finally, Covestor Ltd boosted its position in shares of Axsome Therapeutics by 54,750.0% during the first quarter. Covestor Ltd now owns 1,097 shares of the company’s stock valued at $88,000 after buying an additional 1,095 shares during the last quarter. 81.49% of the stock is owned by hedge funds and other 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.