HC Wainwright Reaffirms Buy Rating for Axsome Therapeutics (NASDAQ:AXSM)

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating restated by HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $290.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 23.09% from the company’s previous close.

Several other research firms have also recently weighed in on AXSM. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, June 11th. Truist Financial upgraded Axsome Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Deutsche Bank Aktiengesellschaft set a $280.00 price objective on Axsome Therapeutics in a report on Tuesday, May 5th. Oppenheimer set a $280.00 target price on shares of Axsome Therapeutics in a report on Monday, May 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $258.00 target price on shares of Axsome Therapeutics in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $259.05.

Axsome Therapeutics Trading Up 0.1%

Shares of Axsome Therapeutics stock traded up $0.34 during midday trading on Wednesday, reaching $235.60. 166,626 shares of the company’s stock traded hands, compared to its average volume of 771,852. The company has a market cap of $12.12 billion, a PE ratio of -63.09 and a beta of 0.60. The stock has a 50 day moving average of $237.45 and a 200-day moving average of $196.83. Axsome Therapeutics has a 12 month low of $96.09 and a 12 month high of $260.19. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The company had revenue of $191.20 million for the quarter, compared to analysts’ expectations of $191.10 million. Axsome Therapeutics’s quarterly revenue was up 57.4% on a year-over-year basis. As a group, equities analysts expect that Axsome Therapeutics will post -2.43 EPS for the current fiscal year.

Insider Transactions at Axsome Therapeutics

In related news, insider Ari Maizel sold 7,500 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $182.42, for a total value of $1,368,150.00. Following the transaction, the insider owned 7,500 shares in the company, valued at $1,368,150. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Mark L. Jacobson sold 4,517 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $227.94, for a total transaction of $1,029,604.98. Following the sale, the chief operating officer owned 4,517 shares of the company’s stock, valued at approximately $1,029,604.98. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 163,352 shares of company stock worth $38,598,262 over the last quarter. Corporate insiders own 20.60% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXSM. Wellington Management Group LLP lifted its position in Axsome Therapeutics by 84.1% during the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after purchasing an additional 609,516 shares during the period. First Trust Advisors LP grew its position in Axsome Therapeutics by 1,230.2% in the 1st quarter. First Trust Advisors LP now owns 577,479 shares of the company’s stock worth $97,606,000 after purchasing an additional 534,066 shares during the period. Norges Bank bought a new stake in Axsome Therapeutics in the 4th quarter worth approximately $90,490,000. Price T Rowe Associates Inc. MD raised its stake in Axsome Therapeutics by 45.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock valued at $275,763,000 after buying an additional 472,422 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Axsome Therapeutics by 73.3% during the 3rd quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock valued at $120,303,000 after buying an additional 419,008 shares during the period. 81.49% of the stock is owned by institutional investors.

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.