Axsome Therapeutics (NASDAQ:AXSM) Stock Price Target Cut by Deutsche Bank Aktiengesellschaft

Axsome Therapeutics (NASDAQ:AXSM) had its price objective cut by equities researchers at Deutsche Bank Aktiengesellschaft from $280.00 to $267.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 42.02% from the stock’s previous close.

A number of other research firms have also recently weighed in on AXSM. Wells Fargo & Company upped their price target on Axsome Therapeutics from $255.00 to $256.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Mizuho boosted their target price on shares of Axsome Therapeutics from $306.00 to $316.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. BMO Capital Markets initiated coverage on shares of Axsome Therapeutics in a research note on Monday, July 20th. They issued an “outperform” rating and a $310.00 target price for the company. Needham & Company LLC raised their price target on shares of Axsome Therapeutics from $267.00 to $268.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Finally, UBS Group reaffirmed a “buy” rating on shares of Axsome Therapeutics in a research note on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $271.00.

Axsome Therapeutics Stock Down 3.0%

NASDAQ AXSM traded down $5.89 during trading hours on Tuesday, hitting $188.00. The company had a trading volume of 144,134 shares, compared to its average volume of 739,803. The firm’s 50 day moving average is $213.27 and its 200 day moving average is $211.72. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.43 and a quick ratio of 1.34. Axsome Therapeutics has a fifty-two week low of $117.30 and a fifty-two week high of $260.19. The company has a market capitalization of $9.85 billion, a price-to-earnings ratio of -49.93 and a beta of 0.71.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.99) 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 company had revenue of $218.38 million for the quarter, compared to analyst estimates of $221.11 million. Sell-side analysts anticipate that Axsome Therapeutics will post -2.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 49,666 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $240.25, for a total transaction of $11,932,256.50. Following the completion of the sale, the chief executive officer owned 7,229 shares in the company, valued at $1,736,767.25. The trade was a 87.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Mark L. Jacobson sold 10,000 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $208.65, for a total transaction of $2,086,500.00. Following the sale, the chief operating officer directly owned 10,000 shares in the company, valued at $2,086,500. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 109,330 shares of company stock worth $24,557,062. 20.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors have recently modified their holdings of AXSM. Norges Bank bought a new position in shares of Axsome Therapeutics during the fourth quarter valued at approximately $90,490,000. Axiom Investors LLC DE lifted its holdings in shares of Axsome Therapeutics by 28.7% in the 4th quarter. Axiom Investors LLC DE now owns 63,390 shares of the company’s stock worth $11,578,000 after purchasing an additional 14,137 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Axsome Therapeutics in the 2nd quarter worth approximately $759,695,000. BNP Paribas Financial Markets boosted its position in Axsome Therapeutics by 60.1% during the 4th quarter. BNP Paribas Financial Markets now owns 304,388 shares of the company’s stock valued at $55,593,000 after purchasing an additional 114,282 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new position in Axsome Therapeutics during the 1st quarter worth $9,019,000. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. The company’s research programs address conditions with substantial unmet medical needs, including depression, migraine, narcolepsy, excessive daytime sleepiness, agitation associated with Alzheimer’s disease, and other neurological or psychiatric disorders.

Axsome’s commercial portfolio includes Auvelity, an oral medicine approved in the United States for the treatment of major depressive disorder in adults.