Axsome Therapeutics (NASDAQ:AXSM) Sets New 52-Week High - Here's Why

Key Points

• Axsome hit a new 52-week high, trading as high as $192.83 (last $189.60) and is currently up about 1.9%, with a market capitalization around $9.69 billion.
• Analysts give AXSM an average rating of Moderate Buy with a consensus price target of $218.06, and several firms have set targets in the $209–$225 range.
• The company reported a 65% year‑over‑year revenue increase and an EPS beat for the quarter but remains unprofitable (negative net margin of 28.69% and ROE of -232.61), while insiders sold roughly $17.1 million of stock in the past 90 days.

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $192.83 and last traded at $189.60, with a volume of 140065 shares changing hands. The stock had previously closed at $185.96.

Analysts Set New Price Targets

AXSM has been the subject of several recent research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Axsome Therapeutics in a report on Monday, April 20th. Robert W. Baird set a $209.00 price target on shares of Axsome Therapeutics in a report on Tuesday, January 13th. Needham & Company LLC reaffirmed a "buy" rating and issued a $225.00 price target on shares of Axsome Therapeutics in a research report on Monday, February 23rd. Piper Sandler increased their price objective on shares of Axsome Therapeutics from $148.00 to $223.00 and gave the company an "overweight" rating in a research note on Friday, January 16th. Finally, Jefferies Financial Group set a $215.00 price objective on shares of Axsome Therapeutics in a research note on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, Axsome Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $218.06.

Axsome Therapeutics Trading Up 1.9%

The firm has a market capitalization of $9.69 billion, a PE ratio of -51.24 and a beta of 0.48. The company has a quick ratio of 1.48, a current ratio of 1.55 and a debt-to-equity ratio of 1.38. The company's 50-day simple moving average is $170.37 and its 200 day simple moving average is $160.74.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings data on Monday, February 23rd. The company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.14. The firm had revenue of $196.00 million during the quarter, compared to analyst estimates of $191.33 million. Axsome Therapeutics had a negative net margin of 28.69% and a negative return on equity of 232.61%. The business's revenue for the quarter was up 65.0% on a year-over-year basis. As a group, sell-side analysts expect that Axsome Therapeutics, Inc. will post -1.22 EPS for the current year.

Insiders Place Their Bets

In related news, insider Ari Maizel sold 7,500 shares of the company's stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $182.42, for a total transaction of $1,368,150.00. Following the transaction, the insider directly owned 7,500 shares of the company's stock, valued at $1,368,150. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Mark L. Jacobson sold 35,378 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $161.88, for a total value of $5,726,990.64. The SEC filing for this sale provides additional information. Insiders have sold 100,288 shares of company stock valued at $17,138,187 in the last 90 days. Corporate insiders own 22.40% of the company's stock.

Institutional Trading of Axsome Therapeutics

Several large investors have recently bought and sold shares of the stock. Birchview Capital LP boosted its position in shares of Axsome Therapeutics by 1.0% during the 4th quarter. Birchview Capital LP now owns 6,061 shares of the company's stock valued at $1,107,000 after acquiring an additional 61 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Axsome Therapeutics by 3.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company's stock worth $351,000 after acquiring an additional 65 shares during the period. Xponance LLC increased its position in shares of Axsome Therapeutics by 2.4% during the 4th quarter. Xponance LLC now owns 3,265 shares of the company's stock worth $596,000 after purchasing an additional 76 shares during the last quarter. Allworth Financial LP lifted its position in Axsome Therapeutics by 6.6% in the third quarter. Allworth Financial LP now owns 1,442 shares of the company's stock valued at $175,000 after buying an additional 89 shares during the last quarter. Finally, Great Lakes Advisors LLC boosted its stake in Axsome Therapeutics by 1.3% during the fourth quarter. Great Lakes Advisors LLC now owns 6,765 shares of the company's stock worth $1,236,000 after buying an additional 89 shares during the period. Hedge funds and other institutional investors own 81.49% of the company's stock.

About Axsome Therapeutics

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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