Analysts Set Axsome Therapeutics, Inc. (NASDAQ:AXSM) Target Price at $172.33

Key Points

• Axsome Therapeutics, Inc. has received an average analyst rating of "Buy" from 16 analysts, with 15 recommending a buy and one a strong buy, and a target price of $172.33.
• Shares of Axsome Therapeutics opened at $103.02, with a market capitalization of $5.07 billion and a price-to-earnings ratio of -17.85.
• Insider trading activity shows that key executives have sold a significant number of shares, with Director Mark Coleman selling 3,750 shares for approximately $395,512 and COO Mark L. Jacobson selling 25,000 shares for around $2.76 million.

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) has been assigned a consensus recommendation of "Buy" from the sixteen research firms that are presently covering the company, MarketBeat reports. Fifteen equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $172.3333.

Several equities research analysts have recently weighed in on the stock. Robert W. Baird increased their price objective on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Morgan Stanley assumed coverage on shares of Axsome Therapeutics in a research report on Thursday, July 3rd. They set an "overweight" rating and a $190.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and set a $150.00 price objective on shares of Axsome Therapeutics in a research report on Monday. Wells Fargo & Company reiterated an "overweight" rating and set a $165.00 price objective (up from $160.00) on shares of Axsome Therapeutics in a research report on Tuesday, May 6th. Finally, Jefferies Financial Group initiated coverage on shares of Axsome Therapeutics in a report on Monday, April 7th. They issued a "buy" rating and a $200.00 price target for the company.

Axsome Therapeutics Trading Up 3.4%

Shares of AXSM stock traded up $3.52 during trading hours on Friday, hitting $106.54. 1,089,202 shares of the company's stock traded hands, compared to its average volume of 794,971. The stock's 50 day simple moving average is $105.84 and its 200 day simple moving average is $110.65. The stock has a market cap of $5.25 billion, a PE ratio of -18.46 and a beta of 0.51. Axsome Therapeutics has a 12 month low of $72.21 and a 12 month high of $139.13. The company has a quick ratio of 1.96, a current ratio of 2.03 and a debt-to-equity ratio of 3.48.

Insider Buying and Selling

In other news, General Counsel Hunter R. Murdock sold 6,014 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $100.12, for a total value of $602,121.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark Coleman sold 3,750 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total transaction of $395,512.50. Following the transaction, the director owned 50,387 shares in the company, valued at approximately $5,314,316.89. The trade was a 6.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,437 shares of company stock worth $9,834,215. Insiders own 22.30% of the company's stock.

Institutional Investors Weigh In On Axsome Therapeutics

Several institutional investors have recently bought and sold shares of AXSM. BVF Inc. IL raised its position in shares of Axsome Therapeutics by 21.8% in the 1st quarter. BVF Inc. IL now owns 1,690,221 shares of the company's stock valued at $197,130,000 after purchasing an additional 302,157 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Axsome Therapeutics by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 912,538 shares of the company's stock valued at $77,228,000 after purchasing an additional 4,079 shares during the last quarter. Invesco Ltd. raised its position in shares of Axsome Therapeutics by 23.8% in the 1st quarter. Invesco Ltd. now owns 857,001 shares of the company's stock valued at $99,952,000 after purchasing an additional 164,537 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Axsome Therapeutics by 4.5% in the 1st quarter. Wellington Management Group LLP now owns 703,279 shares of the company's stock valued at $82,023,000 after purchasing an additional 30,122 shares during the last quarter. Finally, Hood River Capital Management LLC raised its position in shares of Axsome Therapeutics by 3.2% in the 4th quarter. Hood River Capital Management LLC now owns 644,785 shares of the company's stock valued at $54,555,000 after purchasing an additional 19,701 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.