Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives Average Rating of "Buy" from Brokerages

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) have been assigned an average rating of "Buy" from the sixteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Sixteen equities research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have covered the stock in the last year is $169.87.

Several brokerages recently issued reports on AXSM. Bank of America increased their price objective on Axsome Therapeutics from $143.00 to $167.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Leerink Partners lifted their price objective on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Truist Financial boosted their price objective on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Jefferies Financial Group began coverage on Axsome Therapeutics in a research report on Monday, April 7th. They set a "buy" rating and a $200.00 target price on the stock. Finally, Robert W. Baird boosted their price target on Axsome Therapeutics from $132.00 to $160.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd.

Axsome Therapeutics Trading Up 2.2 %

AXSM traded up $2.37 during trading hours on Friday, reaching $112.29. 708,918 shares of the company's stock traded hands, compared to its average volume of 684,624. The firm has a 50-day moving average price of $114.76 and a 200 day moving average price of $103.42. The firm has a market capitalization of $5.48 billion, a PE ratio of -18.75 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 has a 52-week low of $64.11 and a 52-week high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping analysts' consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The firm had revenue of $118.77 million for the quarter, compared to analysts' expectations of $117.83 million. As a group, sell-side analysts predict that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Transactions at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the firm's stock in a transaction 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 completion of the transaction, the chief financial officer now owns 42,187 shares in the company, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 22.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. NBC Securities Inc. acquired a new position in Axsome Therapeutics in the 1st quarter worth approximately $31,000. Raiffeisen Bank International AG purchased a new stake in shares of Axsome Therapeutics in the 4th quarter valued at $51,000. Assetmark Inc. acquired a new stake in shares of Axsome Therapeutics in the fourth quarter worth $52,000. R Squared Ltd purchased a new position in shares of Axsome Therapeutics during the fourth quarter worth $64,000. Finally, Aquatic Capital Management LLC acquired a new position in Axsome Therapeutics during the fourth quarter valued at $76,000. 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.