Axsome Therapeutics’ (AXSM) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research report report published on Monday,Benzinga reports. They currently have a $290.00 price objective on the stock.

Several other analysts also recently issued reports on AXSM. Truist Financial upgraded Axsome Therapeutics to a “strong-buy” rating in a research note on Monday, June 15th. Royal Bank Of Canada decreased their target price on shares of Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. Piper Sandler reaffirmed an “overweight” rating and set a $258.00 target price on shares of Axsome Therapeutics in a report on Monday, May 4th. BMO Capital Markets started coverage on Axsome Therapeutics in a report on Monday, July 20th. They set an “outperform” rating and a $310.00 target price on the stock. Finally, Morgan Stanley raised their price target on Axsome Therapeutics from $242.00 to $251.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $267.60.

Axsome Therapeutics Stock Up 3.5%

AXSM opened at $209.92 on Monday. The stock’s fifty day simple moving average is $225.10 and its 200 day simple moving average is $207.29. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 1.52. The stock has a market cap of $11.00 billion, a PE ratio of -55.98 and a beta of 0.71. Axsome Therapeutics has a 1-year low of $112.90 and a 1-year high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $221.11 million. As a group, research analysts expect that Axsome Therapeutics will post -2.8 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Nick Pizzie sold 33,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the sale, the chief financial officer owned 42,867 shares in the company, valued at $10,291,938.03. The trade was a 43.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Roger Jeffs sold 286 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total value of $70,407.48. Following the completion of the transaction, the director owned 58,653 shares of the company’s stock, valued at $14,439,195.54. This represents a 0.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 183,229 shares of company stock worth $42,666,176 over the last 90 days. Insiders own 20.60% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in AXSM. Amundi raised its holdings in Axsome Therapeutics by 18.1% in the 2nd quarter. Amundi now owns 3,477 shares of the company’s stock valued at $851,000 after buying an additional 532 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Axsome Therapeutics in the second quarter valued at $1,101,000. California State Teachers Retirement System raised its position in Axsome Therapeutics by 27,073.3% during the 2nd quarter. California State Teachers Retirement System now owns 11,176,933 shares of the company’s stock worth $2,735,778,000 after purchasing an additional 11,135,801 shares during the last quarter. Readystate Asset Management LP bought a new position in shares of Axsome Therapeutics during the second quarter worth about $8,213,000. Finally, HB Wealth Management LLC increased its position in Axsome Therapeutics by 0.4% during the 2nd quarter. HB Wealth Management LLC now owns 50,440 shares of the company’s stock valued at $12,346,000 after purchasing an additional 203 shares during the period. 81.49% of the stock is currently owned by institutional investors.

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.