Analysts Set Axsome Therapeutics, Inc. (NASDAQ:AXSM) PT at $124.64

by · The Markets Daily

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM – Get Free Report) have earned an average recommendation of “Buy” from the fourteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Fourteen equities research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $124.64.

A number of equities research analysts recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 price target on shares of Axsome Therapeutics in a report on Monday, September 16th. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Royal Bank of Canada upped their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. HC Wainwright reiterated a “buy” rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Finally, Wells Fargo & Company started coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective on the stock.

Get Our Latest Stock Report on AXSM

Insider Transactions at Axsome Therapeutics

In other news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the transaction, the director now owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Mark L. Jacobson sold 47,739 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.26, for a total value of $4,022,488.14. Following the transaction, the chief operating officer now owns 5,783 shares of the company’s stock, valued at approximately $487,275.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the transaction, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Axsome Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock valued at $298,474,000 after acquiring an additional 43,512 shares during the last quarter. Perceptive Advisors LLC increased its stake in Axsome Therapeutics by 115.5% in the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock valued at $82,616,000 after acquiring an additional 556,370 shares during the last quarter. Point72 Asset Management L.P. increased its stake in Axsome Therapeutics by 57.4% in the fourth quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock valued at $66,633,000 after acquiring an additional 305,264 shares during the last quarter. Millennium Management LLC increased its stake in Axsome Therapeutics by 1.4% in the second quarter. Millennium Management LLC now owns 739,819 shares of the company’s stock valued at $59,555,000 after acquiring an additional 10,401 shares during the last quarter. Finally, Bellevue Group AG boosted its position in Axsome Therapeutics by 7.9% during the first quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock valued at $54,701,000 after buying an additional 50,104 shares during the period. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Price Performance

Axsome Therapeutics stock opened at $87.56 on Monday. Axsome Therapeutics has a 52 week low of $55.02 and a 52 week high of $98.40. The company’s 50 day moving average price is $88.96 and its two-hundred day moving average price is $81.08. The company has a quick ratio of 2.40, a current ratio of 2.48 and a debt-to-equity ratio of 1.77. The stock has a market cap of $4.16 billion, a P/E ratio of -13.72 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM – Get Free Report) last posted its earnings results on Monday, August 5th. The company reported ($1.24) EPS for the quarter, topping the consensus estimate of ($1.30) by $0.06. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. The firm had revenue of $87.17 million for the quarter, compared to analysts’ expectations of $84.53 million. On average, equities analysts predict that Axsome Therapeutics will post -4.73 earnings per share for the current year.

Axsome Therapeutics Company Profile

(Get Free Report

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.

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