Axsome Therapeutics, Inc. (NASDAQ:AXSM) Given Average Recommendation of “Buy” by Analysts

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have received an average rating of “Buy” from the sixteen ratings firms that are currently covering the firm, Marketbeat.com reports. Sixteen analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $169.87.

AXSM has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Axsome Therapeutics in a research report on Tuesday, February 11th. They set a “buy” rating and a $176.00 price objective on the stock. Jefferies Financial Group started coverage on shares of Axsome Therapeutics in a research report on Monday, April 7th. They set a “buy” rating and a $200.00 price target for the company. Royal Bank of Canada boosted their price objective on shares of Axsome Therapeutics from $190.00 to $193.00 and gave the stock an “outperform” rating in a report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $153.00 target price on shares of Axsome Therapeutics in a research note on Wednesday, February 19th. Finally, HC Wainwright restated a “buy” rating and issued a $200.00 price target on shares of Axsome Therapeutics in a research note on Thursday, April 3rd.

Insiders Place Their Bets

In related news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the transaction, the chief financial officer now directly owns 42,187 shares in the company, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its holdings in Axsome Therapeutics by 16,852.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company’s stock worth $73,176,000 after buying an additional 623,717 shares during the period. Boxer Capital Management LLC purchased a new stake in shares of Axsome Therapeutics during the fourth quarter worth about $39,767,000. Lazard Asset Management LLC boosted its stake in Axsome Therapeutics by 525.7% in the 4th quarter. Lazard Asset Management LLC now owns 537,669 shares of the company’s stock worth $45,492,000 after purchasing an additional 451,737 shares during the period. Norges Bank bought a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $34,100,000. Finally, BVF Inc. IL lifted its holdings in shares of Axsome Therapeutics by 32.7% in the fourth quarter. BVF Inc. IL now owns 1,388,064 shares of the company’s stock worth $117,444,000 after buying an additional 342,064 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Price Performance

AXSM stock opened at $109.92 on Friday. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. The firm has a 50 day moving average price of $114.76 and a 200-day moving average price of $103.42. Axsome Therapeutics has a 52-week low of $64.11 and a 52-week high of $139.13. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of -18.35 and a beta of 0.88.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. The business had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $117.83 million. Equities research analysts forecast that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.

About Axsome Therapeutics

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.