Axsome Therapeutics, Inc. (AXSM) - What Are Researchers Saying About This Stock?

Key Points

• Analyst sentiment is broadly positive: Twenty-one brokerages give Axsome Therapeutics an average “Moderate Buy” rating, with 17 buys and one strong buy. The average 12-month price target is $274.68, though recent targets range from $238 to $310.
• Insiders have made significant sales: Executives sold 59,664 shares worth approximately $12.6 million over the past 90 days, including substantial reductions by the CEO and COO. Insiders retain a 20.6% ownership stake.
• Institutional ownership is strong, but profitability remains weak: Institutions and hedge funds own 81.49% of AXSM, while the company reported a quarterly loss of $0.99 per share and revenue slightly below estimates. The stock opened at $144.06, well below its 52-week high of $260.19.

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) has been given an average rating of "Moderate Buy" by the twenty-one brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $274.68.

Several equities analysts recently commented on AXSM shares. Truist Financial upped their price target on shares of Axsome Therapeutics from $200.00 to $285.00 and gave the company a "buy" rating in a report on Wednesday, September 23rd. Needham & Company LLC boosted their price objective on shares of Axsome Therapeutics from $267.00 to $268.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. BMO Capital Markets initiated coverage on shares of Axsome Therapeutics in a research report on Monday, July 20th. They set an "outperform" rating and a $310.00 price target for the company. Guggenheim raised their price target on shares of Axsome Therapeutics from $260.00 to $275.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. Finally, Piper Sandler cut their price objective on shares of Axsome Therapeutics from $258.00 to $238.00 and set an "overweight" rating on the stock in a research report on Monday.

Insider Activity

In related news, COO Mark L. Jacobson sold 10,000 shares of the firm's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $208.65, for a total value of $2,086,500.00. Following the completion of the transaction, the chief operating officer owned 10,000 shares in the company, valued at $2,086,500. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Herriot Tabuteau sold 45,004 shares of the firm's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $212.01, for a total value of $9,541,298.04. Following the completion of the transaction, the chief executive officer owned 7,229 shares of the company's stock, valued at approximately $1,532,620.29. The trade was a 86.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 59,664 shares of company stock worth $12,624,805. Corporate insiders own 20.60% of the company's stock.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXSM. BlackRock Inc. acquired a new stake in Axsome Therapeutics during the second quarter valued at $759,695,000. First Trust Advisors LP raised its position in shares of Axsome Therapeutics by 1,230.2% in the first quarter. First Trust Advisors LP now owns 577,479 shares of the company's stock valued at $97,606,000 after buying an additional 534,066 shares during the last quarter. Bank of America Corp DE acquired a new stake in Axsome Therapeutics in the 2nd quarter valued at about $110,756,000. Canada Pension Plan Investment Board purchased a new position in Axsome Therapeutics during the second quarter worth approximately $55,171,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Axsome Therapeutics during the 2nd quarter worth $48,275,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Axsome Therapeutics Price Performance

AXSM stock opened at $144.06 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 1.52. Axsome Therapeutics has a 52 week low of $123.50 and a 52 week high of $260.19. The company has a fifty day simple moving average of $190.45 and a two-hundred day simple moving average of $199.49. The firm has a market capitalization of $7.55 billion, a P/E ratio of -38.42 and a beta of 0.86.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.10). The company had revenue of $218.38 million for the quarter, compared to the consensus estimate of $221.11 million. Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%. Analysts anticipate that Axsome Therapeutics will post -2.97 earnings per share for the current fiscal year.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. Founded in 2012 and headquartered in New York, the company develops medicines for conditions with significant unmet medical needs, including depression, narcolepsy, excessive daytime sleepiness, and other neurological disorders.

Axsome's commercial products include Auvelity (dextromethorphan and bupropion), an oral treatment approved in the United States for major depressive disorder in adults, and Sunosi (solriamfetol), a therapy for excessive daytime sleepiness associated with narcolepsy or obstructive sleep apnea.

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