Axsome Therapeutics (NASDAQ:AXSM) Earns Overweight Rating from Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of Axsome Therapeutics (NASDAQ:AXSM - Free Report) in a research report sent to investors on Thursday, MarketBeat.com reports. The brokerage issued an overweight rating and a $190.00 price target on the stock.

Several other equities analysts also recently commented on the company. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $165.00 target price (up previously from $160.00) on shares of Axsome Therapeutics in a research report on Tuesday, May 6th. Oppenheimer started coverage on Axsome Therapeutics in a research note on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 price target for the company. HC Wainwright reiterated a "buy" rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Robert W. Baird boosted their price target on Axsome Therapeutics from $160.00 to $162.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Finally, Mizuho boosted their price target on Axsome Therapeutics from $212.00 to $216.00 and gave the company an "outperform" rating in a research note on Thursday, March 27th. One investment 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $172.33.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock traded up $1.45 on Thursday, hitting $105.36. The stock had a trading volume of 245,787 shares, compared to its average volume of 669,187. Axsome Therapeutics has a twelve month low of $72.21 and a twelve month high of $139.13. The business's 50 day moving average is $106.63 and its two-hundred day moving average is $107.80. The company has a quick ratio of 1.96, a current ratio of 2.03 and a debt-to-equity ratio of 3.48. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of -18.26 and a beta of 0.46.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Mark Coleman sold 3,750 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total transaction of $395,512.50. Following the completion of the sale, the director directly owned 50,387 shares in the company, valued at $5,314,316.89. This represents a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mark L. Jacobson sold 25,000 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $110.44, for a total value of $2,761,000.00. Following the sale, the chief operating officer 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. Insiders sold 93,437 shares of company stock worth $9,834,215 over the last three months. Insiders own 22.40% of the company's stock.

Institutional Investors Weigh In On Axsome Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BVF Inc. IL lifted its stake in Axsome Therapeutics by 21.8% during the first quarter. BVF Inc. IL now owns 1,690,221 shares of the company's stock worth $197,130,000 after purchasing an additional 302,157 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Axsome Therapeutics by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 912,538 shares of the company's stock worth $77,228,000 after buying an additional 4,079 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Axsome Therapeutics by 23.8% during the first quarter. Invesco Ltd. now owns 857,001 shares of the company's stock worth $99,952,000 after buying an additional 164,537 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Axsome Therapeutics by 4.5% during the first quarter. Wellington Management Group LLP now owns 703,279 shares of the company's stock worth $82,023,000 after buying an additional 30,122 shares in the last quarter. Finally, Hood River Capital Management LLC increased its holdings in shares of Axsome Therapeutics by 3.2% during the fourth quarter. Hood River Capital Management LLC now owns 644,785 shares of the company's stock worth $54,555,000 after buying an additional 19,701 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors.

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.