Leerink Partners Issues Positive Forecast for Axsome Therapeutics (NASDAQ:AXSM) Stock Price

Axsome Therapeutics (NASDAQ:AXSM) had its price objective lifted by investment analysts at Leerink Partners from $150.00 to $205.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Leerink Partners’ target price suggests a potential upside of 11.03% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. TD Cowen reaffirmed a “buy” rating on shares of Axsome Therapeutics in a research note on Wednesday, December 31st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Axsome Therapeutics in a research note on Wednesday, January 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 target price on shares of Axsome Therapeutics in a research note on Monday, January 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a report on Wednesday, January 21st. Finally, Morgan Stanley downgraded shares of Axsome Therapeutics from an “overweight” rating to a “reduce” rating in a research report on Thursday, January 8th. Nineteen equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $206.22.

Axsome Therapeutics Price Performance

AXSM traded down $3.39 during trading on Wednesday, reaching $184.63. 235,955 shares of the company were exchanged, compared to its average volume of 772,088. Axsome Therapeutics has a 12-month low of $86.99 and a 12-month high of $191.50. The company’s 50-day moving average is $160.98 and its two-hundred day moving average is $134.49. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. The company has a market cap of $9.31 billion, a price-to-earnings ratio of -39.54, a P/E/G ratio of 9.73 and a beta of 0.44.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). Axsome Therapeutics had a negative net margin of 40.90% and a negative return on equity of 277.31%. The firm had revenue of $170.99 million during the quarter, compared to the consensus estimate of $162.96 million. The business’s quarterly revenue was up 63.2% compared to the same quarter last year. Research analysts forecast that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In related news, CEO Herriot Tabuteau sold 91,705 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $132.34, for a total transaction of $12,136,239.70. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at approximately $956,685.86. This represents a 92.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Nick Pizzie sold 12,000 shares of the stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $187.92, for a total value of $2,255,040.00. Following the transaction, the chief financial officer owned 42,588 shares of the company’s stock, valued at $8,003,136.96. This represents a 21.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 440,403 shares of company stock valued at $67,191,178 in the last 90 days. Insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in shares of Axsome Therapeutics by 6.6% in the 3rd quarter. Allworth Financial LP now owns 1,442 shares of the company’s stock valued at $175,000 after purchasing an additional 89 shares in the last quarter. Moors & Cabot Inc. boosted its stake in shares of Axsome Therapeutics by 4.5% in the second quarter. Moors & Cabot Inc. now owns 2,330 shares of the company’s stock worth $243,000 after acquiring an additional 100 shares during the last quarter. Meridian Wealth Management LLC lifted its holdings in Axsome Therapeutics by 0.5% in the third quarter. Meridian Wealth Management LLC now owns 22,124 shares of the company’s stock valued at $2,687,000 after acquiring an additional 103 shares during the last quarter. GAMMA Investing LLC raised its position in Axsome Therapeutics by 65.4% in the 4th quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock valued at $49,000 after purchasing an additional 106 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Axsome Therapeutics by 1.1% during the second quarter. China Universal Asset Management Co. Ltd. now owns 9,889 shares of the company’s stock worth $1,032,000 after purchasing an additional 107 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.