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

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 firm, MarketBeat.com reports. Fifteen equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $172.33.

Several research firms have commented on AXSM. HC Wainwright reaffirmed a "buy" rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. Oppenheimer began coverage on Axsome Therapeutics in a research report on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 price target for the company. Robert W. Baird increased their target price on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Finally, Royal Bank Of Canada lowered their price target on Axsome Therapeutics from $193.00 to $186.00 and set an "outperform" rating for the company in a report on Thursday, June 12th.

Insider Activity

In other news, Director Mark Coleman sold 3,750 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was 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 in the company, valued at $5,314,316.89. This represents a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Mark L. Jacobson sold 25,000 shares of Axsome Therapeutics 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 transaction, the chief operating officer owned 5,783 shares in the company, valued at approximately $638,674.52. This represents a 81.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,437 shares of company stock worth $9,834,215 over the last three months. Insiders own 22.30% of the company's stock.

Hedge Funds Weigh In On Axsome Therapeutics

Several large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its holdings in Axsome Therapeutics by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company's stock valued at $27,755,000 after purchasing an additional 5,438 shares during the last quarter. Assetmark Inc. acquired a new position in Axsome Therapeutics during the 4th quarter worth approximately $52,000. Arizona State Retirement System increased its holdings in Axsome Therapeutics by 1.8% in the fourth quarter. Arizona State Retirement System now owns 9,054 shares of the company's stock valued at $766,000 after buying an additional 164 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Axsome Therapeutics during the 4th quarter worth about $14,771,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Axsome Therapeutics during the 4th quarter worth approximately $1,139,000. Institutional investors and hedge funds own 81.49% of the company's stock.

Axsome Therapeutics Price Performance

AXSM traded down $1.62 during trading hours on Wednesday, hitting $110.73. The company's stock had a trading volume of 718,040 shares, compared to its average volume of 668,574. Axsome Therapeutics has a 12 month low of $72.21 and a 12 month high of $139.13. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of -19.19 and a beta of 0.46. The business's 50-day moving average price is $106.58 and its 200-day moving average price is $108.12. The company has a current ratio of 2.03, a quick ratio of 1.96 and a debt-to-equity ratio of 3.48.

About Axsome Therapeutics

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.