Axsome Therapeutics (NASDAQ:AXSM) Receives “Buy” Rating from HC Wainwright

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a report issued on Thursday,Benzinga reports. They currently have a $200.00 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 82.23% from the company’s current price.

Several other analysts also recently weighed in on AXSM. Mizuho lifted their target price on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an “outperform” rating in a report on Thursday, March 27th. Morgan Stanley raised their price target on Axsome Therapeutics from $125.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Bank of America boosted their price objective on Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Robert W. Baird raised their target price on Axsome Therapeutics from $132.00 to $160.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Finally, Leerink Partners lifted their target price on Axsome Therapeutics from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.64.

Axsome Therapeutics Price Performance

NASDAQ:AXSM opened at $109.75 on Thursday. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $139.13. The stock’s fifty day moving average is $120.62 and its two-hundred day moving average is $101.58. The company has a market capitalization of $5.35 billion, a P/E ratio of -18.32 and a beta of 0.88. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22.

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

Insider Activity at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the sale, the chief financial officer now directly owns 42,187 shares in the company, valued at $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 22.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several institutional investors have recently made changes to their positions in the stock. BVF Inc. IL boosted its holdings in Axsome Therapeutics by 32.7% during 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. FMR LLC boosted its stake in shares of Axsome Therapeutics by 20.6% during the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after acquiring an additional 185,951 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Axsome Therapeutics by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 912,538 shares of the company’s stock worth $77,228,000 after acquiring an additional 4,079 shares during the period. Wellington Management Group LLP increased its stake in Axsome Therapeutics by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock valued at $66,750,000 after purchasing an additional 8,125 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Axsome Therapeutics by 10.8% during the fourth quarter. Invesco Ltd. now owns 692,464 shares of the company’s stock worth $58,589,000 after purchasing an additional 67,285 shares during the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Axsome Therapeutics Company Profile

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.