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

Key Points

• Axsome Therapeutics, Inc. (NASDAQ:AXSM) has received a consensus rating of “Buy” from 17 analysts, with 14 recommending a buy and 2 a strong buy.
• The average price target for Axsome Therapeutics among analysts is $177.93, indicating substantial expected value growth from its current price.
• Recent insider trades show CEO Herriot Tabuteau sold 27,907 shares at an average price of $118.96, reducing his holdings by approximately 79.43%.

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) have received a consensus rating of "Buy" from the seventeen analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, fourteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $177.9333.

A number of equities analysts have weighed in on AXSM shares. Wells Fargo & Company upgraded shares of Axsome Therapeutics to a "strong-buy" rating in a research report on Wednesday, September 3rd. Weiss Ratings restated a "sell (d-)" rating on shares of Axsome Therapeutics in a research report on Wednesday, October 8th. B. Riley started coverage on shares of Axsome Therapeutics in a research report on Wednesday, October 1st. They issued a "buy" rating and a $179.00 price objective for the company. Needham & Company LLC restated a "buy" rating and issued a $150.00 price objective on shares of Axsome Therapeutics in a research report on Monday, August 4th. Finally, Morgan Stanley started coverage on shares of Axsome Therapeutics in a research report on Thursday, July 3rd. They issued an "overweight" rating and a $190.00 price objective for the company.

Insider Activity

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 27,907 shares of the business's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $118.96, for a total value of $3,319,816.72. Following the completion of the transaction, the chief executive officer owned 7,229 shares of the company's stock, valued at $859,961.84. The trade was a 79.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roger Jeffs sold 20,000 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $121.60, for a total transaction of $2,432,000.00. Following the completion of the transaction, the director directly owned 90,974 shares in the company, valued at $11,062,438.40. The trade was a 18.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 243,332 shares of company stock worth $28,824,746. 22.30% of the stock is owned by company insiders.

Institutional Trading of Axsome Therapeutics

A number of hedge funds have recently made changes to their positions in AXSM. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Axsome Therapeutics by 5.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 20,644 shares of the company's stock worth $2,408,000 after acquiring an additional 1,017 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Axsome Therapeutics by 8.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,923 shares of the company's stock worth $1,740,000 after acquiring an additional 1,178 shares during the last quarter. Lisanti Capital Growth LLC bought a new stake in shares of Axsome Therapeutics during the 1st quarter worth $3,881,000. DAVENPORT & Co LLC bought a new stake in shares of Axsome Therapeutics during the 1st quarter worth $218,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Axsome Therapeutics by 42.8% during the 1st quarter. Principal Financial Group Inc. now owns 295,671 shares of the company's stock worth $34,484,000 after acquiring an additional 88,606 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM opened at $125.00 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $6.24 billion, a PE ratio of -24.65 and a beta of 0.52. Axsome Therapeutics has a twelve month low of $75.56 and a twelve month high of $139.13. The company has a 50-day moving average price of $118.47 and a two-hundred day moving average price of $110.15.

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 analyst estimates of $140.02 million. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. Equities analysts forecast that Axsome Therapeutics will post -2.79 EPS for the current year.

Axsome Therapeutics Company Profile

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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