Axsome Therapeutics (NASDAQ:AXSM) Downgraded by Zacks Research to “Strong Sell”

Axsome Therapeutics (NASDAQ:AXSM) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

AXSM has been the topic of several other research reports. Robert W. Baird upped their price target on Axsome Therapeutics from $241.00 to $246.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. UBS Group lifted their price objective on Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft set a $280.00 price objective on Axsome Therapeutics in a research report on Tuesday, May 5th. Royal Bank Of Canada upped their target price on shares of Axsome Therapeutics from $302.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Finally, TD Cowen raised their target price on shares of Axsome Therapeutics from $275.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $261.48.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $236.95 on Monday. Axsome Therapeutics has a 52 week low of $96.09 and a 52 week high of $260.19. The company has a fifty day simple moving average of $238.71 and a two-hundred day simple moving average of $199.47. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. The company has a market cap of $12.19 billion, a price-to-earnings ratio of -63.53 and a beta of 0.60.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The company had revenue of $191.20 million during the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. As a group, equities analysts anticipate that Axsome Therapeutics will post -2.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Herriot Tabuteau sold 49,666 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $240.25, for a total transaction of $11,932,256.50. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at approximately $1,736,767.25. This represents a 87.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan Mahony sold 300 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $237.21, for a total value of $71,163.00. Following the completion of the transaction, the director owned 1,129 shares in the company, valued at approximately $267,810.09. The trade was a 20.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 155,852 shares of company stock valued at $37,230,112 over the last 90 days. 20.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several institutional investors have recently added to or reduced their stakes in AXSM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Axsome Therapeutics by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,923 shares of the company’s stock valued at $2,557,000 after purchasing an additional 1,002 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Axsome Therapeutics by 2,407.9% during the first quarter. Jones Financial Companies Lllp now owns 7,624 shares of the company’s stock worth $889,000 after purchasing an additional 7,320 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Axsome Therapeutics by 38.7% during the first quarter. Goldman Sachs Group Inc. now owns 301,718 shares of the company’s stock worth $35,189,000 after purchasing an additional 84,151 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of Axsome Therapeutics during the 1st quarter worth approximately $307,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Axsome Therapeutics by 29.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,892 shares of the company’s stock worth $8,735,000 after buying an additional 17,250 shares during the last quarter. Hedge funds and other 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.