Axsome Therapeutics, Inc. (NASDAQ:AXSM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has been assigned an average rating of “Moderate Buy” from the twenty-two research firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, sixteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $267.60.

A number of research firms have recently weighed in on AXSM. Truist Financial raised Axsome Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Piper Sandler reissued an “overweight” rating and set a $258.00 target price on shares of Axsome Therapeutics in a research note on Monday, May 4th. BMO Capital Markets started coverage on Axsome Therapeutics in a research note on Monday, July 20th. They set an “outperform” rating and a $310.00 target price for the company. TD Cowen upped their price target on Axsome Therapeutics from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Finally, Wells Fargo & Company increased their price target on Axsome Therapeutics from $255.00 to $256.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th.

Axsome Therapeutics Trading Up 1.2%

Shares of AXSM stock opened at $216.27 on Thursday. Axsome Therapeutics has a fifty-two week low of $109.40 and a fifty-two week high of $260.19. The company has a 50 day moving average price of $235.16 and a 200 day moving average price of $205.39. The stock has a market capitalization of $11.33 billion, a P/E ratio of -57.67 and a beta of 0.65. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%.The business had revenue of $218.38 million for the quarter, compared to analyst estimates of $221.11 million. Equities research analysts predict that Axsome Therapeutics will post -2.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Herriot Tabuteau sold 49,670 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total transaction of $11,970,966.70. Following the sale, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,742,261.29. This represents a 87.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Nick Pizzie sold 33,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the completion of the sale, the chief financial officer directly owned 42,867 shares in the company, valued at approximately $10,291,938.03. This trade represents a 43.50% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 200,766 shares of company stock valued at $46,685,646. Corporate insiders own 20.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA boosted its position in shares of Axsome Therapeutics by 20.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 436,063 shares of the company’s stock worth $79,643,000 after acquiring an additional 73,925 shares in the last quarter. Norges Bank acquired a new stake in shares of Axsome Therapeutics during the 4th quarter worth about $90,490,000. Axiom Investors LLC DE raised its position in shares of Axsome Therapeutics by 28.7% during the 4th quarter. Axiom Investors LLC DE now owns 63,390 shares of the company’s stock worth $11,578,000 after acquiring an additional 14,137 shares in the last quarter. M&T Bank Corp lifted its stake in Axsome Therapeutics by 2,553.8% during the fourth quarter. M&T Bank Corp now owns 49,466 shares of the company’s stock worth $8,277,000 after purchasing an additional 47,602 shares during the last quarter. Finally, Legato Capital Management LLC lifted its stake in Axsome Therapeutics by 90.6% during the fourth quarter. Legato Capital Management LLC now owns 9,627 shares of the company’s stock worth $1,758,000 after purchasing an additional 4,576 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

About Axsome Therapeutics

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.