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

Key Points

• Axsome Therapeutics has a consensus analyst rating of “Moderate Buy” from 21 covering firms, with an average 12-month price target of $259.05.
• The company reported quarterly revenue of $191.2 million, slightly above expectations and up 57.4% year over year, but it also posted a larger-than-expected loss of $1.26 per share.
• Shares were down 3.0% in Friday trading, while recent insider activity showed significant selling, including transactions by the CEO and a director.

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) has earned a consensus rating of "Moderate Buy" from the twenty-one research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, nineteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $259.05.

AXSM has been the topic of a number of recent research reports. Truist Financial raised Axsome Therapeutics to a "strong-buy" rating in a research note on Monday, June 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Axsome Therapeutics in a report on Monday, April 20th. Robert W. Baird boosted their price target on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the company an "outperform" rating in a research report on Tuesday, May 5th. Cantor Fitzgerald reissued an "overweight" rating and issued a $272.00 price objective on shares of Axsome Therapeutics in a report on Monday, May 4th. Finally, TD Cowen raised their price objective on shares of Axsome Therapeutics from $275.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, June 17th.

Axsome Therapeutics Trading Down 3.0%

AXSM opened at $230.00 on Friday. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32. The company's 50 day simple moving average is $238.35 and its two-hundred day simple moving average is $198.24. Axsome Therapeutics has a 1-year low of $96.09 and a 1-year high of $260.19. The firm has a market capitalization of $11.84 billion, a price-to-earnings ratio of -61.66 and a beta of 0.60.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.85) by ($0.41). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The company had revenue of $191.20 million during the quarter, compared to analysts' expectations of $191.10 million. The business's revenue was up 57.4% compared to the same quarter last year. Analysts expect that Axsome Therapeutics will post -2.45 EPS for the current fiscal year.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark Coleman sold 6,000 shares of Axsome Therapeutics stock in a transaction on Monday, June 1st. The stock was sold at an average price of $230.30, for a total value of $1,381,800.00. Following the sale, the director owned 35,140 shares in the company, valued at $8,092,742. The trade was a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Herriot Tabuteau sold 49,670 shares of the company's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total value of $11,970,966.70. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,742,261.29. This trade represents a 87.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 163,352 shares of company stock valued at $38,598,262 in the last ninety days. 20.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Axsome Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of AXSM. Franklin Street Advisors Inc. NC purchased a new position in shares of Axsome Therapeutics in the fourth quarter valued at approximately $1,826,000. Pictet Asset Management Holding SA increased its stake in Axsome Therapeutics by 20.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 436,063 shares of the company's stock worth $79,643,000 after buying an additional 73,925 shares during the period. Norges Bank acquired a new stake in Axsome Therapeutics during the 4th quarter worth approximately $90,490,000. Axiom Investors LLC DE boosted its position in Axsome Therapeutics by 28.7% in the 4th quarter. Axiom Investors LLC DE now owns 63,390 shares of the company's stock valued at $11,578,000 after buying an additional 14,137 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Axsome Therapeutics by 42.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 250,513 shares of the company's stock valued at $30,425,000 after buying an additional 74,885 shares during the period. 81.49% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.