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

Key Points

• Axsome Therapeutics, Inc. has received an average recommendation of “Buy” from 15 research firms, with a 12-month price target averaging $178.00.
• The company's shares opened at $121.86, with a market capitalization of $6.08 billion and a 1-year price range between $75.56 and $139.13.
• Insider sales recently included Director Roger Jeffs selling 20,000 shares, leading to a 13.25% decrease in his ownership, amid increasing institutional interest in the company.

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) has earned an average recommendation of "Buy" from the fifteen research firms that are presently covering the firm, MarketBeat Ratings reports. Fourteen 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 price objective among brokerages that have covered the stock in the last year is $178.00.

AXSM has been the subject of a number of research reports. Oppenheimer initiated coverage on shares of Axsome Therapeutics in a report on Tuesday, June 3rd. They set an "outperform" rating and a $185.00 target price for the company. HC Wainwright restated a "buy" rating and set a $180.00 target price on shares of Axsome Therapeutics in a report on Tuesday, June 10th. Wells Fargo & Company restated an "overweight" rating and set a $165.00 target price (up from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. Needham & Company LLC restated a "buy" rating and set a $150.00 target price on shares of Axsome Therapeutics in a report on Monday, August 4th. Finally, Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th.

Axsome Therapeutics Trading Up 0.6%

Shares of NASDAQ:AXSM opened at $121.86 on Thursday. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of -24.04 and a beta of 0.51. Axsome Therapeutics has a 1-year low of $75.56 and a 1-year high of $139.13. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.51 and a current ratio of 1.57. The company has a 50 day moving average price of $107.42 and a 200 day moving average price of $111.39.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported ($0.92) earnings per share for the quarter, topping analysts' consensus estimates of ($1.00) by $0.08. The firm had revenue of $150.04 million during the quarter, compared to analysts' expectations of $140.02 million. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. On average, research analysts anticipate that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Activity

In other news, Director Roger Jeffs sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $120.03, for a total transaction of $2,400,600.00. Following the sale, the director owned 130,974 shares in the company, valued at $15,720,809.22. The trade was a 13.25% 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, COO Mark L. Jacobson sold 25,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the sale, the chief operating officer owned 5,783 shares in the company, valued at $638,674.52. This represents a 81.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,708 shares of company stock worth $9,288,812 over the last 90 days. 22.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Axsome Therapeutics

A number of large investors have recently made changes to their positions in AXSM. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Axsome Therapeutics during the first quarter worth approximately $25,000. NBC Securities Inc. acquired a new stake in shares of Axsome Therapeutics during the first quarter worth approximately $31,000. Quantbot Technologies LP acquired a new stake in shares of Axsome Therapeutics during the first quarter worth approximately $31,000. AlphaQuest LLC acquired a new stake in shares of Axsome Therapeutics during the first quarter worth approximately $38,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Axsome Therapeutics during the first quarter worth approximately $41,000. Institutional investors and hedge funds own 81.49% of the company's stock.

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.

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