Axsome Therapeutics, Inc. (NASDAQ:AXSM) Given Average Recommendation of "Buy" by Analysts

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) have received a consensus recommendation of "Buy" from the sixteen ratings firms that are presently covering the company, MarketBeat reports. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $172.33.

A number of research analysts recently weighed in on AXSM shares. Needham & Company LLC lowered their price objective on shares of Axsome Therapeutics from $153.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday, June 9th. HC Wainwright reiterated a "buy" rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, June 10th. Robert W. Baird raised their price target on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Jefferies Financial Group initiated coverage on shares of 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, Royal Bank Of Canada cut their price objective on shares of Axsome Therapeutics from $193.00 to $186.00 and set an "outperform" rating on the stock in a research report on Thursday, June 12th.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 25,000 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $110.44, for a total value of $2,761,000.00. Following the completion of the sale, the chief operating officer owned 5,783 shares of the company's stock, valued at approximately $638,674.52. This trade represents a 81.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Coleman sold 3,750 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $105.47, for a total value of $395,512.50. Following the completion of the sale, the director directly owned 50,387 shares of the company's stock, valued at approximately $5,314,316.89. This trade represents a 6.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,437 shares of company stock worth $9,834,215 in the last three months. Insiders own 22.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AXSM. Caitong International Asset Management Co. Ltd acquired a new position in shares of Axsome Therapeutics during the 1st quarter worth $25,000. NBC Securities Inc. purchased a new stake in Axsome Therapeutics during the 1st quarter worth about $31,000. Quantbot Technologies LP purchased a new stake in Axsome Therapeutics during the 1st quarter worth about $31,000. AlphaQuest LLC purchased a new stake in Axsome Therapeutics during the 1st quarter worth about $38,000. Finally, Neo Ivy Capital Management purchased a new stake in Axsome Therapeutics during the 1st quarter worth about $41,000. Institutional investors and hedge funds own 81.49% of the company's stock.

Axsome Therapeutics Stock Performance

AXSM traded down $0.79 on Wednesday, hitting $111.57. The company's stock had a trading volume of 81,477 shares, compared to its average volume of 802,879. The company's 50 day simple moving average is $106.61 and its 200-day simple moving average is $107.95. The firm has a market cap of $5.49 billion, a P/E ratio of -19.34 and a beta of 0.46. Axsome Therapeutics has a 12 month low of $72.21 and a 12 month high of $139.13. The company has a quick ratio of 1.96, a current ratio of 2.03 and a debt-to-equity ratio of 3.48.

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.