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

HC Wainwright reissued their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a report issued on Thursday morning, Benzinga reports. HC Wainwright currently has a $180.00 target price on the stock.

A number of other research firms also recently weighed in on AXSM. Royal Bank of Canada decreased their target price on shares of Axsome Therapeutics from $131.00 to $130.00 and set an outperform rating for the company in a research report on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $107.00 target price on shares of Axsome Therapeutics in a research report on Friday, July 26th. Mizuho reiterated a buy rating and set a $106.00 target price on shares of Axsome Therapeutics in a report on Wednesday, June 12th. Needham & Company LLC restated a buy rating and issued a $130.00 price target on shares of Axsome Therapeutics in a research note on Monday, August 5th. Finally, UBS Group dropped their price objective on Axsome Therapeutics from $107.00 to $105.00 and set a buy rating on the stock in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $124.57.

Axsome Therapeutics Stock Down 0.5 %

NASDAQ:AXSM opened at $93.19 on Thursday. The stock has a 50-day simple moving average of $85.71 and a 200 day simple moving average of $78.79. 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 $4.43 billion, a PE ratio of -14.61 and a beta of 1.26. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.40 and a current ratio of 2.48.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.06. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. The firm had revenue of $87.17 million during the quarter, compared to the consensus estimate of $84.53 million. On average, sell-side analysts expect that Axsome Therapeutics will post -4.72 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 47,739 shares of Axsome Therapeutics stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the transaction, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at $487,275.58. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 22.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its position in shares of Axsome Therapeutics by 1.3% in the fourth quarter. Principal Financial Group Inc. now owns 9,497 shares of the company’s stock valued at $756,000 after purchasing an additional 120 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in Axsome Therapeutics by 0.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 17,999 shares of the company’s stock valued at $1,433,000 after buying an additional 135 shares in the last quarter. Natixis grew its holdings in Axsome Therapeutics by 13.6% in the 1st quarter. Natixis now owns 1,235 shares of the company’s stock valued at $99,000 after buying an additional 148 shares in the last quarter. Arizona State Retirement System increased its position in Axsome Therapeutics by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock worth $695,000 after buying an additional 177 shares during the period. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Axsome Therapeutics during the second quarter worth $27,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.