Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives $172.33 Consensus PT from Brokerages

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) has earned a consensus recommendation of "Buy" from the sixteen analysts that are covering the stock, Marketbeat Ratings reports. Fifteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $172.33.

Several equities research analysts recently commented on AXSM shares. Royal Bank Of Canada cut their target price 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. Mizuho raised their price target on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an "outperform" rating in a research note on Thursday, March 27th. Wells Fargo & Company reissued an "overweight" rating and issued a $165.00 price objective (up previously from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. Needham & Company LLC decreased their price objective on Axsome Therapeutics from $153.00 to $150.00 and set a "buy" rating for the company in a report on Monday, June 9th. Finally, Morgan Stanley lifted their target price on Axsome Therapeutics from $125.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th.

Insider Activity at Axsome Therapeutics

In other news, Director Mark Coleman sold 3,750 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total value of $395,512.50. Following the completion of the sale, the director now directly owns 50,387 shares in the company, valued at $5,314,316.89. This trade represents a 6.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Mark L. Jacobson sold 25,000 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were 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 now owns 5,783 shares of the company's stock, valued at approximately $638,674.52. This represents a 81.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,423 shares of company stock worth $7,711,619 in the last quarter. Company insiders own 22.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AXSM. Assenagon Asset Management S.A. raised its position in shares of Axsome Therapeutics by 16,852.7% during the first quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company's stock worth $73,176,000 after purchasing an additional 623,717 shares during the period. Boxer Capital Management LLC acquired a new stake in Axsome Therapeutics in the 4th quarter valued at $39,767,000. Lazard Asset Management LLC increased its stake in Axsome Therapeutics by 525.7% during the 4th quarter. Lazard Asset Management LLC now owns 537,669 shares of the company's stock valued at $45,492,000 after purchasing an additional 451,737 shares in the last quarter. Nuveen LLC bought a new stake in Axsome Therapeutics during the 1st quarter valued at $48,185,000. Finally, Norges Bank acquired a new position in Axsome Therapeutics during the fourth quarter worth $34,100,000. Institutional investors own 81.49% of the company's stock.

Axsome Therapeutics Trading Down 0.1%

Axsome Therapeutics stock traded down $0.09 during trading hours on Friday, hitting $101.60. The stock had a trading volume of 995,049 shares, compared to its average volume of 676,753. The business's 50 day simple moving average is $106.53 and its 200-day simple moving average is $107.04. Axsome Therapeutics has a one year low of $72.02 and a one year high of $139.13. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of -17.61 and a beta of 0.47. The company has a quick ratio of 1.96, a current ratio of 2.03 and a debt-to-equity ratio of 3.48.

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.