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

Key Points

• Axsome Therapeutics has received an average rating of "Buy" from 15 analysts, with 13 giving it a buy rating and 2 a strong buy, and an average target price of $177.86.
• The stock recently traded up by 1.3% to $117.49, with a one-year price range from $75.56 to $139.13.
• In recent insider trading, directors sold significant shares—Mark E. Saad sold 9,127 shares, and Roger Jeffs sold 20,000 shares, representing an 18.02% decrease in their ownership positions.

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) has been assigned an average recommendation of "Buy" from the fifteen ratings firms that are covering the stock, Marketbeat reports. Thirteen analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $177.8571.

Several research firms have recently commented on AXSM. Morgan Stanley began coverage on Axsome Therapeutics in a research note on Thursday, July 3rd. They set an "overweight" rating and a $190.00 price target for the company. Wells Fargo & Company upgraded Axsome Therapeutics to a "strong-buy" rating in a research report on Wednesday, September 3rd. HC Wainwright reiterated a "buy" rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, June 10th. Bank of America increased their price objective on Axsome Therapeutics from $173.00 to $176.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Finally, Oppenheimer assumed coverage on Axsome Therapeutics in a research report on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 price objective for the company.

Axsome Therapeutics Trading Up 1.3%

Shares of Axsome Therapeutics stock traded up $1.54 during trading hours on Monday, hitting $117.49. 525,915 shares of the company were exchanged, compared to its average volume of 564,750. 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 current ratio of 1.57 and a quick ratio of 1.51. The business has a 50-day moving average of $112.98 and a 200-day moving average of $110.21.

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

Insiders Place Their Bets

In other news, Director Mark E. Saad sold 9,127 shares of the firm's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $125.07, for a total value of $1,141,513.89. Following the completion of the transaction, the director owned 10,002 shares in the company, valued at $1,250,950.14. This trade represents a 47.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Roger Jeffs sold 20,000 shares of the firm's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $121.60, for a total value of $2,432,000.00. Following the completion of the transaction, the director owned 90,974 shares of the company's stock, valued at approximately $11,062,438.40. This represents a 18.02% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,948 shares of company stock worth $23,406,686. 22.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Axsome Therapeutics during the first quarter valued at $25,000. Quantbot Technologies LP acquired a new stake in shares of Axsome Therapeutics during the first quarter valued at $31,000. NBC Securities Inc. acquired a new stake in shares of Axsome Therapeutics during the first quarter valued at $31,000. AlphaQuest LLC acquired a new stake in Axsome Therapeutics in the 1st quarter worth about $38,000. Finally, Neo Ivy Capital Management purchased a new position in shares of Axsome Therapeutics in the 1st quarter worth about $41,000. Hedge funds and other institutional investors 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.