Axsome Therapeutics' (AXSM) "Buy" Rating Reiterated at HC Wainwright

Key Points

• HC Wainwright reiterated a “buy” rating on Axsome Therapeutics and maintained a $290 price target, implying about 23% upside from the stock’s current price.
• Other analysts remain broadly positive, with recent target increases and upgrades from firms like Needham, Baird, Morgan Stanley, and Truist. Overall, the stock has a Moderate Buy consensus rating and a consensus price target of $259.05.
• Axsome’s latest earnings showed revenue growth of 57.4% year over year to $191.2 million, but the company still reported a wider-than-expected loss of ($1.26) per share. The article also notes recent insider selling, including a sizable sale by the CFO.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report)'s stock had its "buy" rating restated by investment analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $290.00 price target on the stock. HC Wainwright's price target would indicate a potential upside of 23.09% from the company's current price.

Several other equities research analysts also recently issued reports on AXSM. Needham & Company LLC upped their price target on Axsome Therapeutics from $225.00 to $255.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Robert W. Baird boosted their price target on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. Morgan Stanley raised shares of Axsome Therapeutics from a "reduce" rating to an "overweight" rating in a research report on Thursday, June 11th. Truist Financial raised shares of Axsome Therapeutics to a "strong-buy" rating in a research report on Monday, June 15th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Axsome Therapeutics in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Axsome Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $259.05.

Axsome Therapeutics Trading Up 0.1%

AXSM traded up $0.34 during trading on Wednesday, reaching $235.60. 166,626 shares of the stock traded hands, compared to its average volume of 771,852. The stock has a market capitalization of $12.12 billion, a PE ratio of -63.09 and a beta of 0.60. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. The stock's 50-day moving average is $237.45 and its 200 day moving average is $196.83. Axsome Therapeutics has a 12 month low of $96.09 and a 12 month high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The company had revenue of $191.20 million for the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The firm's revenue for the quarter was up 57.4% on a year-over-year basis. Equities analysts anticipate that Axsome Therapeutics will post -2.43 earnings per share for the current year.

Insider Buying and Selling

In other Axsome Therapeutics news, CFO Nick Pizzie sold 33,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total value of $7,922,970.00. Following the sale, the chief financial officer directly owned 42,867 shares in the company, valued at $10,291,938.03. This represents a 43.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark Coleman sold 643 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $249.00, for a total transaction of $160,107.00. Following the completion of the sale, the director directly owned 30,389 shares in the company, valued at $7,566,861. This represents a 2.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 163,352 shares of company stock worth $38,598,262 in the last quarter. 20.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Kemnay Advisory Services Inc. bought a new position in shares of Axsome Therapeutics during the fourth quarter valued at about $31,000. Hollencrest Capital Management boosted its holdings in Axsome Therapeutics by 400.0% during the 1st quarter. Hollencrest Capital Management now owns 200 shares of the company's stock valued at $34,000 after acquiring an additional 160 shares during the period. Ameriflex Group Inc. bought a new position in Axsome Therapeutics during the 4th quarter worth approximately $37,000. GAMMA Investing LLC lifted its position in Axsome Therapeutics by 65.4% in the fourth quarter. GAMMA Investing LLC now owns 268 shares of the company's stock valued at $49,000 after purchasing an additional 106 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in Axsome Therapeutics by 602.6% in the 4th quarter. Farther Finance Advisors LLC now owns 274 shares of the company's stock worth $50,000 after acquiring an additional 235 shares during the last quarter. Institutional investors own 81.49% of the company's stock.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome's pipeline includes several late-stage and approved product candidates.

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