Axsome Therapeutics (NASDAQ:AXSM) Hits New 12-Month High - Here's Why

Key Points

• Shares hit a new 52-week high, trading as high as $154.49 (last $151.96) as multiple firms raised price targets; the stock carries a MarketBeat consensus rating of “Moderate Buy” with an average target of $179.88.
• Axsome beat revenue expectations in its most recent quarter with $170.99M (+63.2% YoY) but missed on EPS (‑$0.94 vs. ‑$0.82 expected), and the company remains unprofitable with negative ROE and net margin.
• Significant insider selling has occurred recently — including sales by the COO and CEO — with insiders disposing of about 299,296 shares (~$40M) in the last three months, representing 22.3% insider ownership.

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $154.49 and last traded at $151.96, with a volume of 183511 shares changing hands. The stock had previously closed at $147.00.

Analyst Ratings Changes

Several research analysts have issued reports on AXSM shares. Morgan Stanley increased their price target on Axsome Therapeutics from $194.00 to $196.00 and gave the stock an "overweight" rating in a report on Tuesday, November 4th. B. Riley started coverage on Axsome Therapeutics in a research report on Wednesday, October 1st. They issued a "buy" rating and a $179.00 price target for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Axsome Therapeutics in a report on Wednesday, October 8th. Guggenheim increased their price target on Axsome Therapeutics from $200.00 to $205.00 and gave the company a "buy" rating in a research report on Tuesday, November 4th. Finally, HC Wainwright upped their price objective on Axsome Therapeutics from $180.00 to $185.00 and gave the company a "buy" rating in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Axsome Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $179.88.

Axsome Therapeutics Price Performance

The business's 50-day moving average price is $139.96 and its 200 day moving average price is $121.45. The company has a market capitalization of $7.72 billion, a P/E ratio of -32.81 and a beta of 0.48. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 1.66.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.12). Axsome Therapeutics had a negative return on equity of 277.31% and a negative net margin of 40.90%.The firm had revenue of $170.99 million during the quarter, compared to analysts' expectations of $162.96 million. The company's revenue was up 63.2% on a year-over-year basis. Analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 10,000 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $115.96, for a total value of $1,159,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Herriot Tabuteau sold 10,558 shares of the firm's stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $148.18, for a total transaction of $1,564,484.44. Following the completion of the transaction, the chief executive officer owned 7,229 shares in the company, valued at $1,071,193.22. This represents a 59.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 299,296 shares of company stock valued at $40,041,911. 22.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Axsome Therapeutics

Hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc grew its position in Axsome Therapeutics by 20,300.0% during the 3rd quarter. Versant Capital Management Inc now owns 204 shares of the company's stock valued at $25,000 after purchasing an additional 203 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Axsome Therapeutics during the first quarter valued at approximately $31,000. First Horizon Corp bought a new stake in shares of Axsome Therapeutics during the third quarter valued at approximately $34,000. Optiver Holding B.V. raised its holdings in Axsome Therapeutics by 82.3% in the 3rd quarter. Optiver Holding B.V. now owns 288 shares of the company's stock worth $35,000 after acquiring an additional 130 shares during the last quarter. Finally, AlphaQuest LLC bought a new position in Axsome Therapeutics in the 1st quarter valued at approximately $38,000. 81.49% of the stock is owned by 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.

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