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

Key Points

• Axsome Therapeutics has a “Moderate Buy” consensus rating from 22 analysts, with 16 buys, two strong buys, two holds and two sells. The average 12-month price target is $267.60, above the reported share price of $214.66.
• AXSM shares were trading down 0.5%, while the company’s latest quarterly results missed expectations: adjusted EPS was a $0.99 loss versus the estimated $0.89 loss, and revenue was $218.38 million versus the $221.11 million consensus.
• Insiders sold heavily during the quarter, including CEO Herriot Tabuteau’s sale of nearly 49,700 shares; total insider sales reached 200,766 shares valued at $46.7 million. Institutional investors own 81.49% of the company.

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) has received an average rating of "Moderate Buy" from the twenty-two brokerages that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $267.60.

AXSM has been the subject of several research reports. BMO Capital Markets assumed coverage on shares of Axsome Therapeutics in a report on Monday, July 20th. They issued an "outperform" rating and a $310.00 target price for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Axsome Therapeutics in a research note on Friday, July 17th. Guggenheim raised their price target on Axsome Therapeutics from $260.00 to $275.00 and gave the stock a "buy" rating in a research report on Tuesday. Morgan Stanley raised their price target on Axsome Therapeutics from $242.00 to $251.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Finally, Robert W. Baird lifted their price objective on Axsome Therapeutics from $241.00 to $246.00 and gave the company an "outperform" rating in a research note on Tuesday, May 5th.

Axsome Therapeutics Trading Down 0.5%

Shares of AXSM stock opened at $214.66 on Thursday. Axsome Therapeutics has a 1-year low of $104.15 and a 1-year high of $260.19. The firm has a market cap of $11.24 billion, a PE ratio of -57.24 and a beta of 0.65. The company has a 50-day moving average of $236.26 and a two-hundred day moving average of $204.79. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 275.76%. The company had revenue of $218.38 million during the quarter, compared to analysts' expectations of $221.11 million. On average, analysts predict that Axsome Therapeutics will post -2.44 EPS for the current year.

Insider Transactions at Axsome Therapeutics

In other news, CEO Herriot Tabuteau sold 49,670 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total transaction of $11,970,966.70. Following the sale, the chief executive officer owned 7,229 shares of the company's stock, valued at approximately $1,742,261.29. This represents a 87.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Coleman sold 6,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $230.30, for a total transaction of $1,381,800.00. Following the sale, the director directly owned 35,140 shares in the company, valued at $8,092,742. This represents a 14.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 200,766 shares of company stock valued at $46,685,646. Insiders own 20.60% of the company's stock.

Institutional Investors Weigh In On Axsome Therapeutics

Large investors have recently added to or reduced their stakes in the business. Kemnay Advisory Services Inc. purchased a new position in Axsome Therapeutics in the 4th quarter valued at approximately $31,000. Hollencrest Capital Management increased its position in shares of Axsome Therapeutics by 400.0% during the first quarter. Hollencrest Capital Management now owns 200 shares of the company's stock worth $34,000 after acquiring an additional 160 shares during the period. Ameriflex Group Inc. purchased a new stake in shares of Axsome Therapeutics during the fourth quarter worth $37,000. Silvant Capital Management LLC acquired a new stake in shares of Axsome Therapeutics in the second quarter valued at $66,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Axsome Therapeutics by 602.6% in the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company's stock valued at $50,000 after acquiring an additional 235 shares in the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome's pipeline includes several late-stage and approved product candidates.

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