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.
View Our Latest Stock Analysis on AXSM
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
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Get Free ReportAxsome 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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