Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives $203.17 Consensus PT from Brokerages

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-one research firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and nineteen have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $203.1667.

Several equities analysts have recently issued reports on the company. TD Cowen reaffirmed a “buy” rating on shares of Axsome Therapeutics in a report on Wednesday, December 31st. Royal Bank Of Canada raised their target price on Axsome Therapeutics from $212.00 to $219.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Morgan Stanley downgraded shares of Axsome Therapeutics from an “overweight” rating to a “reduce” rating in a report on Thursday, January 8th. Guggenheim restated a “buy” rating and set a $205.00 price objective on shares of Axsome Therapeutics in a report on Friday, January 2nd. Finally, UBS Group lifted their price objective on shares of Axsome Therapeutics from $163.00 to $248.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th.

Insider Transactions at Axsome Therapeutics

In related news, Director Mark E. Saad sold 37,577 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $165.18, for a total value of $6,206,968.86. Following the completion of the transaction, the director directly owned 10,002 shares of the company’s stock, valued at approximately $1,652,130.36. This trade represents a 78.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Herriot Tabuteau sold 31,261 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $170.38, for a total transaction of $5,326,249.18. Following the completion of the transaction, the chief executive officer owned 7,229 shares of the company’s stock, valued at $1,231,677.02. This represents a 81.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 440,403 shares of company stock worth $67,191,178. Insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

A number of large investors have recently made changes to their positions in the stock. Stanley Laman Group Ltd. purchased a new position in shares of Axsome Therapeutics during the 3rd quarter valued at about $2,125,000. Swiss National Bank grew its position in Axsome Therapeutics by 6.9% during the second quarter. Swiss National Bank now owns 65,200 shares of the company’s stock valued at $6,806,000 after acquiring an additional 4,200 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Axsome Therapeutics by 55.4% during the second quarter. Bank of New York Mellon Corp now owns 203,632 shares of the company’s stock worth $21,257,000 after acquiring an additional 72,609 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Axsome Therapeutics by 62.9% during the third quarter. Assenagon Asset Management S.A. now owns 294,771 shares of the company’s stock worth $35,800,000 after acquiring an additional 113,811 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Axsome Therapeutics by 154.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 4,424 shares of the company’s stock worth $462,000 after acquiring an additional 2,686 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

Axsome Therapeutics Price Performance

AXSM opened at $188.02 on Friday. Axsome Therapeutics has a 1 year low of $86.99 and a 1 year high of $191.50. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.50. The company has a market capitalization of $9.48 billion, a price-to-earnings ratio of -40.26, a P/E/G ratio of 9.73 and a beta of 0.44. The firm’s fifty day moving average price is $160.98 and its two-hundred day moving average price is $134.49.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). The firm had revenue of $170.99 million for the quarter, compared to the consensus estimate of $162.96 million. Axsome Therapeutics had a negative net margin of 40.90% and a negative return on equity of 277.31%. Axsome Therapeutics’s quarterly revenue was up 63.2% compared to the same quarter last year. As a group, analysts anticipate that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

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.