Axsome Therapeutics, Inc. (NASDAQ:AXSM) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Axsome Therapeutics has a consensus analyst rating of “Moderate Buy”, with 18 buy ratings and an average 12-month price target of about $251.26.
• The company’s latest earnings report showed revenue of $191.2 million, up 57.4% year over year, but EPS missed expectations at -$1.26 versus the -$0.85 consensus.
• Shares were trading near their 52-week high at $234.48, while insiders recently sold stock and institutional ownership remained high at 81.49%.

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twenty-one analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eighteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $251.2632.

AXSM has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on shares of Axsome Therapeutics from $217.00 to $242.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 5th. Piper Sandler reaffirmed an "overweight" rating and issued a $258.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. UBS Group raised their price objective on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the company a "buy" rating in a research note on Friday, April 10th. Royal Bank Of Canada raised their price objective on shares of Axsome Therapeutics from $242.00 to $302.00 and gave the company an "outperform" rating in a research note on Tuesday, May 5th. Finally, Wells Fargo & Company raised their price objective on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th.

Axsome Therapeutics Price Performance

Shares of AXSM stock opened at $234.48 on Friday. Axsome Therapeutics has a 52-week low of $96.09 and a 52-week high of $238.56. The stock has a market cap of $12.07 billion, a PE ratio of -62.86 and a beta of 0.59. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39. The firm's 50 day moving average price is $195.53 and its two-hundred day moving average price is $175.25.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.85) by ($0.41). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The business had revenue of $191.20 million during the quarter, compared to the consensus estimate of $191.10 million. The firm's revenue was up 57.4% compared to the same quarter last year. As a group, analysts forecast that Axsome Therapeutics will post -2.14 EPS for the current year.

Insider Buying and Selling

In other news, COO Mark L. Jacobson sold 4,517 shares of Axsome Therapeutics stock in a transaction on Monday, May 4th. The shares were sold at an average price of $227.94, for a total transaction of $1,029,604.98. Following the transaction, the chief operating officer directly owned 4,517 shares of the company's stock, valued at $1,029,604.98. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ari Maizel sold 7,500 shares of Axsome Therapeutics stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $182.42, for a total transaction of $1,368,150.00. Following the transaction, the insider directly owned 7,500 shares in the company, valued at approximately $1,368,150. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 12,250 shares of company stock worth $2,450,921. Insiders own 20.60% of the company's stock.

Hedge Funds Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Perceptive Advisors LLC boosted its position in shares of Axsome Therapeutics by 0.7% during the first quarter. Perceptive Advisors LLC now owns 149,950 shares of the company's stock worth $25,345,000 after purchasing an additional 1,050 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Axsome Therapeutics by 26.1% during the first quarter. Janus Henderson Group PLC now owns 19,052 shares of the company's stock worth $3,219,000 after purchasing an additional 3,948 shares in the last quarter. Amundi bought a new position in shares of Axsome Therapeutics during the first quarter worth $498,000. EverSource Wealth Advisors LLC boosted its position in shares of Axsome Therapeutics by 48.0% during the first quarter. EverSource Wealth Advisors LLC now owns 512 shares of the company's stock worth $87,000 after purchasing an additional 166 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Axsome Therapeutics by 22.2% during the first quarter. California State Teachers Retirement System now owns 41,132 shares of the company's stock worth $6,952,000 after purchasing an additional 7,465 shares in the last quarter. 81.49% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.