Axsome Therapeutics (NASDAQ:AXSM) Now Covered by Analysts at Oppenheimer

Oppenheimer initiated coverage on shares of Axsome Therapeutics (NASDAQ:AXSM - Free Report) in a report issued on Tuesday, Marketbeat.com reports. The firm issued an outperform rating and a $185.00 price objective on the stock.

Several other equities research analysts have also weighed in on the company. Royal Bank of Canada lifted their price target on Axsome Therapeutics from $190.00 to $193.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Axsome Therapeutics in a research note on Tuesday, February 11th. They set a "buy" rating and a $176.00 price objective on the stock. Wells Fargo & Company reaffirmed an "overweight" rating and set a $165.00 target price (up previously from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. William Blair reiterated an "outperform" rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Finally, Morgan Stanley increased their target price on Axsome Therapeutics from $125.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Axsome Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $173.00.

Axsome Therapeutics Trading Down 1.8%

Shares of NASDAQ AXSM traded down $1.97 during midday trading on Tuesday, hitting $108.14. 477,939 shares of the company traded hands, compared to its average volume of 688,466. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $139.13. The stock has a 50-day moving average price of $106.05 and a 200 day moving average price of $106.35. The firm has a market cap of $5.32 billion, a P/E ratio of -18.05 and a beta of 0.46.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 20,673 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $104.66, for a total value of $2,163,636.18. Following the completion of the sale, the chief operating officer now owns 5,783 shares in the company, valued at $605,248.78. This represents a 78.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mark Coleman sold 3,000 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $107.49, for a total transaction of $322,470.00. Following the completion of the sale, the director now directly owns 54,137 shares of the company's stock, valued at approximately $5,819,186.13. This trade represents a 5.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,423 shares of company stock worth $4,950,619 in the last quarter. Company insiders own 22.30% of the company's stock.

Institutional Investors Weigh In On Axsome Therapeutics

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

Axsome Therapeutics Company Profile

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.