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

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) has been given an average recommendation of "Buy" by the sixteen analysts that are presently covering the firm, MarketBeat.com reports. Fifteen investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $172.33.

AXSM has been the subject of a number of recent research reports. Cantor Fitzgerald raised shares of Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. HC Wainwright reissued a "buy" rating and set a $180.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Morgan Stanley began coverage on shares of Axsome Therapeutics in a research note on Thursday, July 3rd. They issued an "overweight" rating and a $190.00 price objective on the stock. Royal Bank Of Canada dropped 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. Finally, Robert W. Baird lifted their target price 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.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $108.41 on Wednesday. The company has a market capitalization of $5.34 billion, a price-to-earnings ratio of -18.79 and a beta of 0.46. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.96 and a current ratio of 2.03. The company has a 50-day simple moving average of $106.61 and a 200 day simple moving average of $107.92. Axsome Therapeutics has a 52 week low of $72.21 and a 52 week high of $139.13.

Insider Buying and Selling at Axsome Therapeutics

In other news, General Counsel Hunter R. Murdock sold 6,014 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $100.12, for a total value of $602,121.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mark L. Jacobson sold 25,000 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $638,674.52. The trade was a 81.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,437 shares of company stock worth $9,834,215 over the last three months. 22.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC grew its position in shares of Axsome Therapeutics by 0.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 39,623 shares of the company's stock worth $4,621,000 after buying an additional 136 shares during the period. Pitcairn Co. increased its holdings in Axsome Therapeutics by 3.4% in the 4th quarter. Pitcairn Co. now owns 4,562 shares of the company's stock worth $386,000 after acquiring an additional 148 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in Axsome Therapeutics by 4.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company's stock valued at $326,000 after buying an additional 162 shares in the last quarter. Arizona State Retirement System grew its holdings in Axsome Therapeutics by 1.8% during the 4th 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 in the last quarter. Finally, Intrust Bank NA boosted its position in shares of Axsome Therapeutics by 6.9% during the 4th quarter. Intrust Bank NA now owns 2,823 shares of the company's stock valued at $239,000 after acquiring an additional 183 shares during the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

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.

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