Axsome Therapeutics (NASDAQ:AXSM) Rating Increased to Hold at StockNews.com

Axsome Therapeutics (NASDAQ:AXSM) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

Several other analysts also recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 target price on shares of Axsome Therapeutics in a report on Monday, September 16th. Royal Bank of Canada cut their price target on Axsome Therapeutics from $131.00 to $130.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $95.00 to $106.00 in a research note on Tuesday, August 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $130.00 target price on shares of Axsome Therapeutics in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $124.57.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $93.24 on Tuesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.40 and a current ratio of 2.48. The stock has a market cap of $4.43 billion, a PE ratio of -14.61 and a beta of 1.25. Axsome Therapeutics has a 1 year low of $55.02 and a 1 year high of $98.40. The stock has a fifty day moving average price of $88.77 and a 200 day moving average price of $80.59.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly 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 business had revenue of $87.17 million during the quarter, compared to the consensus estimate of $84.53 million. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. Sell-side analysts forecast that Axsome Therapeutics will post -4.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In related news, COO Mark L. Jacobson sold 47,739 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the sale, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at approximately $487,275.58. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, COO Mark L. Jacobson sold 47,739 shares of the firm’s stock in a transaction dated 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 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 SEC, which is accessible through this link. Also, Director Mark E. Saad sold 11,016 shares of the business’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 value of $1,005,870.96. Following the transaction, 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. 22.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Private Wealth Group LLC grew its stake in Axsome Therapeutics by 0.8% in 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 in the last quarter. Natixis lifted its stake in Axsome Therapeutics by 13.6% during the first quarter. Natixis now owns 1,235 shares of the company’s stock worth $99,000 after purchasing an additional 148 shares during the last quarter. Arizona State Retirement System boosted its holdings in Axsome Therapeutics by 2.1% in the second quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock worth $695,000 after purchasing an additional 177 shares during the period. Principal Financial Group Inc. increased its stake in Axsome Therapeutics by 2.9% during the first quarter. Principal Financial Group Inc. now owns 9,773 shares of the company’s stock valued at $780,000 after purchasing an additional 276 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Axsome Therapeutics during the second quarter worth $27,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

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.