Axsome Therapeutics (NASDAQ:AXSM) Given Buy Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research note released on Tuesday, Benzinga reports. They currently have a $190.00 price target on the stock.

AXSM has been the subject of several other reports. Robert W. Baird boosted their price target on Axsome Therapeutics from $108.00 to $112.00 and gave the stock an outperform rating in a research report on Tuesday. Royal Bank of Canada increased their target price on shares of Axsome Therapeutics from $123.00 to $128.00 and gave the company an outperform rating in a research report on Tuesday, March 26th. Cantor Fitzgerald restated an overweight rating and set a $107.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, April 10th. UBS Group started coverage on shares of Axsome Therapeutics in a report on Tuesday, February 6th. They issued a buy rating and a $111.00 price objective for the company. Finally, Mizuho boosted their target price on Axsome Therapeutics from $108.00 to $109.00 and gave the stock a buy rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $122.17.

Axsome Therapeutics Stock Performance

AXSM opened at $76.94 on Tuesday. The firm’s fifty day simple moving average is $74.14 and its two-hundred day simple moving average is $75.73. Axsome Therapeutics has a 52-week low of $55.02 and a 52-week high of $98.40. The company has a market cap of $3.65 billion, a price-to-earnings ratio of -14.80 and a beta of 1.13. The company has a quick ratio of 3.52, a current ratio of 3.63 and a debt-to-equity ratio of 0.93.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.48. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. The firm had revenue of $71.53 million for the quarter, compared to analyst estimates of $70.38 million. Equities analysts anticipate that Axsome Therapeutics will post -3.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In other news, COO Mark L. Jacobson sold 24,662 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Roger Jeffs sold 29,976 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the sale, the director now directly owns 120,756 shares of the company’s stock, valued at approximately $8,416,693.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Mark L. Jacobson sold 24,662 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $77.24, for a total value of $1,904,892.88. The disclosure for this sale can be found here. 24.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Axsome Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of AXSM. Washington Trust Advisors Inc. purchased a new position in Axsome Therapeutics in the fourth quarter valued at approximately $26,000. Fifth Third Bancorp grew its position in shares of Axsome Therapeutics by 100.0% in the 3rd quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Axsome Therapeutics by 110.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,204 shares of the company’s stock worth $84,000 after acquiring an additional 633 shares in the last quarter. Janiczek Wealth Management LLC purchased a new stake in Axsome Therapeutics in the first quarter valued at $97,000. Finally, SG Americas Securities LLC acquired a new position in Axsome Therapeutics in the fourth quarter valued at $170,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.