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

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) has earned an average recommendation of "Buy" from the sixteen ratings firms that are currently covering the firm, MarketBeat reports. Fifteen analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $172.33.

Several analysts have weighed in on the stock. Oppenheimer assumed coverage on shares of Axsome Therapeutics in a research note on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 price target for the company. Robert W. Baird boosted 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. Morgan Stanley assumed coverage on shares of Axsome Therapeutics in a research note on Thursday, July 3rd. They issued an "overweight" rating and a $190.00 price target for the company. Wells Fargo & Company reissued an "overweight" rating and issued a $165.00 price target (up from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. Finally, HC Wainwright reissued a "buy" rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, June 10th.

Axsome Therapeutics Stock Down 1.6%

NASDAQ:AXSM traded down $1.75 during midday trading on Wednesday, hitting $108.98. The company had a trading volume of 978,142 shares, compared to its average volume of 668,655. Axsome Therapeutics has a 52-week low of $72.21 and a 52-week high of $139.13. The stock's fifty day moving average price is $106.51 and its 200-day moving average price is $108.42. The company has a quick ratio of 1.96, a current ratio of 2.03 and a debt-to-equity ratio of 3.48.

Insider Buying and Selling

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

Institutional Investors Weigh In On Axsome Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new stake in Axsome Therapeutics in the first quarter worth about $25,000. Quantbot Technologies LP purchased a new stake in Axsome Therapeutics in the first quarter worth about $31,000. NBC Securities Inc. purchased a new stake in Axsome Therapeutics in the first quarter worth about $31,000. AlphaQuest LLC purchased a new stake in Axsome Therapeutics in the first quarter worth about $38,000. Finally, Neo Ivy Capital Management purchased a new stake in Axsome Therapeutics in the first quarter worth about $41,000. Hedge funds and other institutional investors 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.