Axsome Therapeutics (NASDAQ:AXSM) Shares Gap Up to $71.71

Axsome Therapeutics, Inc. (NASDAQ:AXSM)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $71.71, but opened at $74.97. Axsome Therapeutics shares last traded at $75.01, with a volume of 94,798 shares traded.

Analysts Set New Price Targets

A number of equities analysts have commented on AXSM shares. UBS Group started coverage on Axsome Therapeutics in a research note on Tuesday, February 6th. They issued a “buy” rating and a $111.00 target price for the company. Morgan Stanley raised Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $90.00 to $115.00 in a report on Monday. Guggenheim boosted their target price on Axsome Therapeutics from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada boosted their target price on Axsome Therapeutics from $123.00 to $128.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Finally, Citigroup boosted their target price on Axsome Therapeutics from $125.00 to $127.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $122.00.

Axsome Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.93, a current ratio of 3.63 and a quick ratio of 3.52. The stock has a market capitalization of $3.52 billion, a P/E ratio of -14.22 and a beta of 1.13. The company’s 50 day simple moving average is $75.29 and its two-hundred day simple moving average is $75.27.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($1.21) by $0.48. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. The business had revenue of $71.53 million for the quarter, compared to analyst estimates of $70.38 million. As a group, equities analysts expect that Axsome Therapeutics, Inc. will post -3.81 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total value of $2,089,327.20. Following the sale, the director now directly owns 120,756 shares in the company, valued at approximately $8,416,693.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Mark L. Jacobson sold 24,662 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Roger Jeffs sold 29,976 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the completion of the transaction, the director now owns 120,756 shares in the company, valued at approximately $8,416,693.20. The disclosure for this sale can be found here. 24.50% of the stock is currently owned by insiders.

Institutional Trading of Axsome Therapeutics

Institutional investors have recently bought and sold shares of the business. Washington Trust Advisors Inc. bought a new stake in shares of Axsome Therapeutics during the 4th quarter worth approximately $26,000. Fifth Third Bancorp increased its position in Axsome Therapeutics by 100.0% in the 3rd quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock valued at $28,000 after acquiring an additional 200 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Axsome Therapeutics by 110.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,204 shares of the company’s stock valued at $84,000 after acquiring an additional 633 shares during the period. Janiczek Wealth Management LLC acquired a new position in Axsome Therapeutics in the 1st quarter valued at approximately $97,000. Finally, SG Americas Securities LLC acquired a new position in Axsome Therapeutics in the 4th quarter valued at approximately $170,000. 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.