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

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) has received an average rating of "Buy" from the sixteen analysts that are currently covering the company, MarketBeat Ratings reports. Fifteen analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $172.33.

AXSM has been the subject of several recent analyst reports. Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a "strong-buy" rating in a research report on Wednesday, May 14th. HC Wainwright reissued a "buy" rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday. Royal Bank of Canada cut their price target on shares of Axsome Therapeutics from $193.00 to $186.00 and set an "outperform" rating for the company in a report on Thursday. William Blair reiterated an "outperform" rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Finally, Robert W. Baird increased their price objective on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th.

Axsome Therapeutics Stock Down 2.0%

AXSM stock opened at $104.10 on Friday. The firm has a market cap of $5.13 billion, a PE ratio of -17.38 and a beta of 0.47. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. The firm's fifty day moving average is $106.45 and its 200 day moving average is $106.95. Axsome Therapeutics has a one year low of $71.15 and a one year high of $139.13.

Insiders Place Their Bets

In other news, COO Mark L. Jacobson sold 20,673 shares of Axsome Therapeutics stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $104.66, for a total transaction of $2,163,636.18. Following the transaction, the chief operating officer now owns 5,783 shares in the company, valued at $605,248.78. The trade was a 78.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark Coleman sold 3,000 shares of Axsome Therapeutics stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $107.49, for a total value of $322,470.00. Following the completion of the sale, the director now directly owns 54,137 shares in the company, valued at approximately $5,819,186.13. This represents a 5.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,423 shares of company stock worth $7,711,619 over the last three months. 22.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new stake in Axsome Therapeutics in the 1st quarter valued at $25,000. NBC Securities Inc. bought a new stake in shares of Axsome Therapeutics during the 1st quarter worth $31,000. Quantbot Technologies LP bought a new stake in shares of Axsome Therapeutics during the 1st quarter worth $31,000. AlphaQuest LLC bought a new stake in shares of Axsome Therapeutics during the 1st quarter worth $38,000. Finally, Neo Ivy Capital Management bought a new position in Axsome Therapeutics in the first quarter valued at about $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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