Axsome Therapeutics (NASDAQ:AXSM) Upgraded 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 report issued to clients and investors on Tuesday.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada reduced 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $107.00 target price on shares of Axsome Therapeutics in a research note on Friday, July 26th. HC Wainwright decreased their target price on shares of Axsome Therapeutics from $190.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday. Bank of America upgraded shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and raised their price target for the company from $95.00 to $106.00 in a report on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a research note on Monday. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.38.

Axsome Therapeutics Stock Up 2.8 %

Shares of NASDAQ:AXSM traded up $2.31 during trading on Tuesday, reaching $85.52. 732,848 shares of the company traded hands, compared to its average volume of 705,217. The firm has a fifty day simple moving average of $79.77 and a 200 day simple moving average of $79.38. The company has a quick ratio of 3.09, a current ratio of 3.20 and a debt-to-equity ratio of 1.25. Axsome Therapeutics has a 1-year low of $55.02 and a 1-year high of $98.40. The firm has a market cap of $4.06 billion, a P/E ratio of -13.40 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, May 6th. The company reported ($1.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.11. Axsome Therapeutics had a negative return on equity of 87.17% and a negative net margin of 118.07%. The firm had revenue of $75.00 million during the quarter, compared to analysts’ expectations of $69.91 million. Analysts anticipate that Axsome Therapeutics will post -4.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 7,910 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total value of $587,792.10. Following the sale, the chief operating officer now owns 5,783 shares of the company’s stock, valued at approximately $429,734.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Axsome Therapeutics news, Director Mark Coleman sold 5,249 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $75.21, for a total value of $394,777.29. Following the sale, the director now directly owns 19,848 shares in the company, valued at approximately $1,492,768.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mark L. Jacobson sold 7,910 shares of Axsome Therapeutics stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total value of $587,792.10. Following the sale, the chief operating officer now directly owns 5,783 shares in the company, valued at $429,734.73. The disclosure for this sale can be found here. Corporate insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Several institutional investors have recently modified their holdings of the company. Perceptive Advisors LLC increased its stake in Axsome Therapeutics by 115.5% in the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock valued at $82,616,000 after acquiring an additional 556,370 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Axsome Therapeutics by 57.4% in the 4th quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock valued at $66,633,000 after purchasing an additional 305,264 shares during the period. First Turn Management LLC acquired a new position in shares of Axsome Therapeutics in the 4th quarter worth approximately $23,513,000. Norges Bank bought a new position in shares of Axsome Therapeutics during the 4th quarter worth approximately $15,530,000. Finally, Avidity Partners Management LP boosted its stake in Axsome Therapeutics by 54.8% in the 4th quarter. Avidity Partners Management LP now owns 459,400 shares of the company’s stock valued at $36,564,000 after buying an additional 162,600 shares in the last quarter. Institutional investors and hedge funds 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.