Analysts Set Axsome Therapeutics, Inc. (NASDAQ:AXSM) PT at $124.57

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have been given a consensus recommendation of “Buy” by the fourteen ratings firms that are presently covering the firm, MarketBeat reports. Fourteen research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $124.57.

AXSM has been the subject of a number of recent analyst reports. UBS Group cut their price target on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Wells Fargo & Company started coverage on shares of Axsome Therapeutics in a research report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a research report on Monday. HC Wainwright reissued a “buy” rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Finally, StockNews.com lowered shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th.

Axsome Therapeutics Stock Down 1.3 %

Axsome Therapeutics stock opened at $92.41 on Thursday. The stock has a market capitalization of $4.39 billion, a PE ratio of -14.48 and a beta of 1.25. Axsome Therapeutics has a twelve month low of $55.02 and a twelve month high of $98.40. The company has a quick ratio of 2.40, a current ratio of 2.48 and a debt-to-equity ratio of 1.77. The company has a 50 day moving average of $87.10 and a 200-day moving average of $79.23.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, August 5th. The company reported ($1.24) EPS for the quarter, topping the consensus estimate 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 business had revenue of $87.17 million during the quarter, compared to analysts’ expectations of $84.53 million. On average, equities research analysts anticipate that Axsome Therapeutics will post -4.73 EPS for the current fiscal year.

Insider Activity

In related news, COO Mark L. Jacobson sold 47,739 shares of Axsome Therapeutics stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 5,783 shares in the company, valued at approximately $487,275.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Axsome Therapeutics news, COO Mark L. Jacobson sold 47,739 shares of the firm’s stock in a transaction that occurred 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 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 the SEC website. Also, Director Mark E. Saad sold 11,016 shares of the firm’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 transaction of $1,005,870.96. Following the transaction, the director now owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. The disclosure for this sale can be found here. 22.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Axsome Therapeutics

Several hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Axsome Therapeutics in the 2nd quarter valued at $47,000. Clearbridge Investments LLC increased its stake in shares of Axsome Therapeutics by 19.5% in the 2nd quarter. Clearbridge Investments LLC now owns 106,767 shares of the company’s stock valued at $8,595,000 after acquiring an additional 17,397 shares in the last quarter. Dana Investment Advisors Inc. increased its stake in shares of Axsome Therapeutics by 3.7% in the 2nd quarter. Dana Investment Advisors Inc. now owns 19,724 shares of the company’s stock valued at $1,588,000 after acquiring an additional 697 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of Axsome Therapeutics by 17.1% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 11,354 shares of the company’s stock valued at $914,000 after acquiring an additional 1,656 shares in the last quarter. Finally, Quarry LP increased its stake in shares of Axsome Therapeutics by 77.8% in the 2nd quarter. Quarry LP now owns 3,200 shares of the company’s stock valued at $258,000 after acquiring an additional 1,400 shares in the last quarter. Institutional investors 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.