Axsome Therapeutics (NASDAQ:AXSM) Given "Sell (D-)" Rating at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for Axsome Therapeutics, indicating a negative outlook from the research firm.
• Despite the negative rating from Weiss, other analysts have given Axsome Therapeutics various positive ratings, with Bank of America and Royal Bank of Canada setting higher price targets, contributing to a consensus "Buy" rating for the stock.
• Axsome Therapeutics reported revenues of $150.04 million for the last quarter, exceeding estimates, but continues to show negative earnings with an expected EPS of -2.79 for the current fiscal year.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research analysts have also recently issued reports on the stock. Bank of America lifted their price target on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. HC Wainwright restated a "buy" rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Royal Bank Of Canada boosted their target price on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. B. Riley began coverage on shares of Axsome Therapeutics in a report on Wednesday, October 1st. They set a "buy" rating and a $179.00 target price for the company. Finally, Needham & Company LLC reissued a "buy" rating and issued a $150.00 target price on shares of Axsome Therapeutics in a report on Monday, August 4th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $177.93.

Axsome Therapeutics Trading Up 0.1%

Axsome Therapeutics stock traded up $0.07 during mid-day trading on Wednesday, reaching $118.71. 336,029 shares of the company traded hands, compared to its average volume of 730,698. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.51. Axsome Therapeutics has a 52-week low of $75.56 and a 52-week high of $139.13. The firm's 50 day moving average price is $115.69 and its 200 day moving average price is $109.97. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of -23.41 and a beta of 0.52.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported ($0.92) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.08. The company had revenue of $150.04 million for the quarter, compared to analysts' expectations of $140.02 million. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%. On average, analysts anticipate that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark E. Saad sold 9,127 shares of Axsome Therapeutics stock in a transaction on Friday, September 5th. The shares were sold at an average price of $125.07, for a total transaction of $1,141,513.89. Following the completion of the transaction, the director directly owned 10,002 shares of the company's stock, valued at $1,250,950.14. The trade was a 47.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mark L. Jacobson sold 45,783 shares of Axsome Therapeutics stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $114.48, for a total transaction of $5,241,237.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 197,948 shares of company stock valued at $23,406,686. Corporate insiders own 22.40% of the company's stock.

Institutional Trading of Axsome Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXSM. Caitong International Asset Management Co. Ltd purchased a new stake in Axsome Therapeutics in the 1st quarter worth about $25,000. NBC Securities Inc. purchased a new position in Axsome Therapeutics during the 1st quarter valued at $31,000. Quantbot Technologies LP purchased a new position in Axsome Therapeutics during the 1st quarter valued at $31,000. AlphaQuest LLC purchased a new position in Axsome Therapeutics during the 1st quarter valued at $38,000. Finally, Neo Ivy Capital Management purchased a new position in Axsome Therapeutics in the 1st quarter worth about $41,000. 81.49% of the stock is owned by hedge funds and other 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.

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