Axsome Therapeutics (NASDAQ:AXSM) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Axsome Therapeutics (NASDAQ:AXSM) from a hold rating to a sell rating in a research note published on Tuesday.

Other equities analysts have also recently issued research reports about the stock. HC Wainwright restated a “buy” rating and set a $180.00 target price on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Royal Bank of Canada boosted their price objective on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. UBS Group reduced their price objective on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Bank of America raised shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $95.00 to $106.00 in a research note on Tuesday, August 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $107.00 price objective on shares of Axsome Therapeutics in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Axsome Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $124.93.

Axsome Therapeutics Stock Down 4.3 %

AXSM stock opened at $93.17 on Tuesday. The company has a market cap of $4.52 billion, a P/E ratio of -14.27 and a beta of 1.26. Axsome Therapeutics has a 52 week low of $56.66 and a 52 week high of $105.00. The company’s 50-day moving average price is $90.66 and its 200 day moving average price is $84.27. The company has a current ratio of 2.44, a quick ratio of 2.40 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. The company had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter in the previous year, the business posted ($1.32) earnings per share. On average, research analysts expect that Axsome Therapeutics will post -5.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 10,002 shares in the company, valued at $913,282.62. This represents a 52.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Axsome Therapeutics by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock valued at $298,474,000 after buying an additional 43,512 shares in the last quarter. Bellevue Group AG grew its holdings in shares of 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 purchasing an additional 50,104 shares during the last quarter. XTX Topco Ltd grew its holdings in shares of Axsome Therapeutics by 177.9% during the second quarter. XTX Topco Ltd now owns 11,205 shares of the company’s stock valued at $902,000 after purchasing an additional 7,173 shares during the last quarter. Tri Locum Partners LP grew its holdings in shares of Axsome Therapeutics by 198.4% during the second quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock valued at $24,674,000 after purchasing an additional 203,802 shares during the last quarter. Finally, Blair William & Co. IL grew its holdings in shares of Axsome Therapeutics by 645.9% during the first quarter. Blair William & Co. IL now owns 63,547 shares of the company’s stock valued at $5,071,000 after purchasing an additional 55,027 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

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.