Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus: 17 analysts rate Axsome Therapeutics a buy and two rate it a strong buy, with an average 12-month price target of $267.60.
• Recent results fell short of expectations: Axsome reported quarterly EPS of ($0.99), missing the ($0.89) consensus estimate, while revenue of $218.38 million was below expectations of $221.11 million.
• Insiders have been selling shares: Company insiders sold 193,229 shares worth approximately $44.8 million over the past three months, while institutional investors and hedge funds own 81.49% of the stock.

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twenty-two research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, seventeen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $267.60.

Several analysts have issued reports on AXSM shares. Weiss Ratings restated a "sell (d-)" rating on shares of Axsome Therapeutics in a research note on Friday, July 17th. Mizuho lifted their target price on Axsome Therapeutics from $306.00 to $316.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. HC Wainwright restated a "buy" rating and issued a $290.00 price target on shares of Axsome Therapeutics in a research note on Monday, August 31st. TD Cowen raised their price target on Axsome Therapeutics from $275.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, June 17th. Finally, BMO Capital Markets started coverage on shares of Axsome Therapeutics in a research report on Monday, July 20th. They set an "outperform" rating and a $310.00 price objective for the company.

Axsome Therapeutics Price Performance

Axsome Therapeutics stock opened at $206.68 on Monday. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.43 and a quick ratio of 1.34. The company's 50-day moving average is $223.81 and its 200-day moving average is $207.66. The firm has a market capitalization of $10.83 billion, a PE ratio of -55.11 and a beta of 0.71. Axsome Therapeutics has a fifty-two week low of $112.90 and a fifty-two week high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The firm had revenue of $218.38 million during the quarter, compared to analyst estimates of $221.11 million. Sell-side analysts anticipate that Axsome Therapeutics will post -2.8 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Mark Jacobson sold 10,000 shares of the firm's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $208.65, for a total transaction of $2,086,500.00. Following the completion of the sale, the chief operating officer owned 10,000 shares in the company, valued at approximately $2,086,500. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Herriot Tabuteau sold 49,670 shares of the firm's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $241.01, for a total transaction of $11,970,966.70. Following the sale, the chief executive officer owned 7,229 shares of the company's stock, valued at approximately $1,742,261.29. This represents a 87.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 193,229 shares of company stock valued at $44,752,676. 20.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System grew its position in shares of Axsome Therapeutics by 27,073.3% in the second quarter. California State Teachers Retirement System now owns 11,176,933 shares of the company's stock valued at $2,735,778,000 after purchasing an additional 11,135,801 shares during the last quarter. BlackRock Inc. acquired a new stake in Axsome Therapeutics during the 2nd quarter worth approximately $759,695,000. Price T Rowe Associates Inc. MD boosted its stake in Axsome Therapeutics by 45.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company's stock valued at $275,763,000 after purchasing an additional 472,422 shares during the period. Wellington Management Group LLP boosted its stake in Axsome Therapeutics by 84.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company's stock valued at $162,082,000 after purchasing an additional 609,516 shares during the period. Finally, Invesco Ltd. boosted its stake in Axsome Therapeutics by 28.6% in the 4th quarter. Invesco Ltd. now owns 1,273,494 shares of the company's stock valued at $232,591,000 after purchasing an additional 282,937 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source