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

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

Several research firms have issued reports on AXSM. Oppenheimer began coverage on shares of Axsome Therapeutics in a research report on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 price target on the stock. Morgan Stanley began coverage on shares of Axsome Therapeutics in a research report on Thursday, July 3rd. They issued an "overweight" rating and a $190.00 price target on the stock. Royal Bank Of Canada decreased their price target 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. Mizuho lifted their price target on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the stock an "outperform" rating in a research report on Thursday, March 27th. Finally, Robert W. Baird lifted their price target on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM traded up $3.94 during mid-day trading on Wednesday, reaching $112.35. 886,827 shares of the company traded hands, compared to its average volume of 668,535. Axsome Therapeutics has a fifty-two week low of $72.21 and a fifty-two week high of $139.13. The company has a debt-to-equity ratio of 3.48, a current ratio of 2.03 and a quick ratio of 1.96. The firm has a market cap of $5.53 billion, a PE ratio of -19.47 and a beta of 0.46. The stock has a fifty day simple moving average of $106.61 and a 200-day simple moving average of $107.92.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark Coleman sold 3,750 shares of Axsome Therapeutics stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $105.47, for a total transaction of $395,512.50. Following the completion of the sale, the director owned 50,387 shares of the company's stock, valued at $5,314,316.89. This trade represents a 6.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Hunter R. Murdock sold 6,014 shares of Axsome Therapeutics stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $100.12, for a total transaction of $602,121.68. The disclosure for this sale can be found here. Insiders sold 93,437 shares of company stock valued at $9,834,215 in the last quarter. Company insiders own 22.40% of the company's stock.

Institutional Investors Weigh In On Axsome Therapeutics

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

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.