Axsome Therapeutics (NASDAQ:AXSM) Now Covered by Morgan Stanley

Morgan Stanley started coverage on shares of Axsome Therapeutics (NASDAQ:AXSM - Free Report) in a research note released on Thursday morning, Marketbeat reports. The firm issued an overweight rating and a $190.00 price objective on the stock.

Several other research firms have also weighed in on AXSM. Mizuho boosted their target price 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. Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, May 14th. HC Wainwright reiterated a "buy" rating and set a $180.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Royal Bank Of Canada lowered their target price on shares of Axsome Therapeutics from $193.00 to $186.00 and set an "outperform" rating for the company in a research note on Thursday, June 12th. Finally, Jefferies Financial Group initiated coverage on shares of Axsome Therapeutics in a research note on Monday, April 7th. They set a "buy" rating and a $200.00 target price for the company. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Axsome Therapeutics has a consensus rating of "Buy" and an average target price of $172.33.

Axsome Therapeutics Stock Up 1.4%

Shares of NASDAQ:AXSM traded up $1.45 during midday trading on Thursday, reaching $105.36. The company had a trading volume of 245,787 shares, compared to its average volume of 670,169. The company has a debt-to-equity ratio of 3.48, a current ratio of 2.03 and a quick ratio of 1.96. Axsome Therapeutics has a one year low of $72.21 and a one year high of $139.13. The stock's fifty day moving average price is $106.65 and its 200-day moving average price is $107.48. The stock has a market capitalization of $5.19 billion, a P/E ratio of -18.26 and a beta of 0.46.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mark L. Jacobson sold 25,000 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the completion of the sale, the chief operating officer directly owned 5,783 shares of the company's stock, valued at $638,674.52. The trade was a 81.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 93,437 shares of company stock valued at $9,834,215. 22.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Intech Investment Management LLC lifted its holdings in Axsome Therapeutics by 46.5% in the 4th quarter. Intech Investment Management LLC now owns 16,028 shares of the company's stock valued at $1,356,000 after acquiring an additional 5,087 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Axsome Therapeutics during the 4th quarter worth about $14,771,000. Charles Schwab Investment Management Inc. raised its holdings in Axsome Therapeutics by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company's stock worth $27,755,000 after buying an additional 5,438 shares during the period. Aigen Investment Management LP acquired a new stake in Axsome Therapeutics during the 4th quarter worth about $395,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Axsome Therapeutics by 20.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,642 shares of the company's stock worth $4,877,000 after buying an additional 9,928 shares during the period. 81.49% of the stock is 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.