Axsome Therapeutics’ (AXSM) Buy Rating Reaffirmed at HC Wainwright

Axsome Therapeutics (NASDAQ:AXSMGet Free Report)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $190.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 157.10% from the stock’s current price.

Several other research firms have also recently commented on AXSM. Cantor Fitzgerald reissued an “overweight” rating and issued a $107.00 price target on shares of Axsome Therapeutics in a report on Wednesday, April 10th. Morgan Stanley raised shares of Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $90.00 to $115.00 in a research note on Monday, April 29th. Robert W. Baird raised their price objective on shares of Axsome Therapeutics from $108.00 to $112.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Mizuho lowered their target price on shares of Axsome Therapeutics from $109.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Finally, Truist Financial reissued a “buy” rating and set a $150.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Axsome Therapeutics has an average rating of “Moderate Buy” and an average target price of $122.08.

Get Our Latest Report on Axsome Therapeutics

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $73.90 on Thursday. The stock has a fifty day moving average price of $73.61 and a 200 day moving average price of $77.68. Axsome Therapeutics has a 1-year low of $55.02 and a 1-year high of $98.40. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.20 and a quick ratio of 3.09. The company has a market cap of $3.51 billion, a PE ratio of -11.58 and a beta of 1.25.

Axsome Therapeutics (NASDAQ:AXSMGet Free Report) last released its earnings results on Monday, May 6th. The company reported ($1.09) EPS for the quarter, topping the consensus estimate of ($1.20) by $0.11. Axsome Therapeutics had a negative net margin of 118.07% and a negative return on equity of 87.17%. The company had revenue of $75.00 million during the quarter, compared to analysts’ expectations of $69.91 million. Sell-side analysts forecast that Axsome Therapeutics will post -4.7 EPS for the current year.

Insiders Place Their Bets

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 transaction, the director now owns 120,756 shares of the company’s stock, valued at $8,416,693.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Mark Coleman sold 5,249 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $75.21, for a total transaction of $394,777.29. Following the completion of the transaction, the director now owns 19,848 shares of the company’s stock, valued at approximately $1,492,768.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Roger Jeffs sold 29,976 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the transaction, the director now owns 120,756 shares in the company, valued at $8,416,693.20. The disclosure for this sale can be found here. Insiders have sold 67,797 shares of company stock valued at $4,976,789 in the last ninety days. Insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Large investors have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Axsome Therapeutics during the 1st quarter worth $774,000. Artal Group S.A. purchased a new position in shares of Axsome Therapeutics in the 1st quarter worth about $6,132,000. Comerica Bank lifted its stake in shares of Axsome Therapeutics by 7,716.4% in the 1st quarter. Comerica Bank now owns 9,067 shares of the company’s stock valued at $723,000 after purchasing an additional 8,951 shares in the last quarter. Castleark Management LLC purchased a new stake in shares of Axsome Therapeutics during the 1st quarter worth about $2,570,000. Finally, Kennedy Capital Management LLC increased its position in Axsome Therapeutics by 46.0% during the 1st quarter. Kennedy Capital Management LLC now owns 19,483 shares of the company’s stock worth $1,555,000 after purchasing an additional 6,136 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

(Get Free Report)

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.

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