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

Key Points

• Analysts remain broadly positive: Axsome Therapeutics has a “Moderate Buy” consensus from 21 analysts, with 17 buy ratings and an average 12-month price target of $275.84.
• Insiders have been selling shares: Company insiders sold 59,664 shares worth approximately $12.6 million over the past 90 days, while insiders retain a 20.60% ownership stake.
• Recent financial results fell short of expectations: Axsome reported a quarterly loss of $0.99 per share versus the $0.89 consensus estimate and revenue of $218.38 million, slightly below analyst forecasts.

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twenty-one analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $275.84.

Several research analysts recently issued reports on AXSM shares. Truist Financial raised their target price on shares of Axsome Therapeutics from $200.00 to $285.00 and gave the stock a "buy" rating in a report on Wednesday, September 23rd. Piper Sandler reaffirmed an "overweight" rating and set a $258.00 price target on shares of Axsome Therapeutics in a research report on Friday, September 18th. Guggenheim lifted their price objective on Axsome Therapeutics from $260.00 to $275.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. Wells Fargo & Company lifted their price objective on Axsome Therapeutics from $255.00 to $256.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. Finally, Royal Bank Of Canada decreased their price objective on Axsome Therapeutics from $304.00 to $297.00 and set an "outperform" rating for the company in a report on Tuesday, August 11th.

Insider Buying and Selling

In other news, CEO Herriot Tabuteau sold 4,660 shares of Axsome Therapeutics stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $213.95, for a total value of $997,007.00. Following the sale, the chief executive officer directly owned 7,229 shares of the company's stock, valued at $1,546,644.55. The trade was a 39.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Mark L. Jacobson sold 10,000 shares of the company's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $208.65, for a total transaction of $2,086,500.00. Following the sale, the chief operating officer directly owned 10,000 shares of the company's stock, valued at $2,086,500. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 59,664 shares of company stock valued at $12,624,805 over the last 90 days. Company insiders own 20.60% of the company's stock.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. ABS Direct Equity Fund LLC purchased a new stake in Axsome Therapeutics in the second quarter valued at approximately $60,000. Sequoia Financial Advisors LLC acquired a new stake in Axsome Therapeutics in the second quarter valued at $217,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Axsome Therapeutics during the 2nd quarter worth approximately $251,000. NewEdge Advisors LLC purchased a new stake in Axsome Therapeutics in the second quarter valued at $277,000. Finally, IFP Advisors Inc lifted its holdings in shares of Axsome Therapeutics by 2.1% in the 2nd quarter. IFP Advisors Inc now owns 62,273 shares of the company's stock valued at $15,243,000 after purchasing an additional 1,279 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company's stock.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $182.07 on Friday. Axsome Therapeutics has a 12-month low of $117.30 and a 12-month high of $260.19. The business's fifty day simple moving average is $209.96 and its 200-day simple moving average is $212.30. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 1.52. The company has a market cap of $9.54 billion, a PE ratio of -48.55 and a beta of 0.86.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $218.38 million for the quarter, compared to analyst estimates of $221.11 million. Analysts expect that Axsome Therapeutics will post -2.92 earnings per share for the current fiscal year.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. The company uses differentiated product candidates and targeted mechanisms to address conditions with significant unmet medical needs, including depression, sleep disorders, migraine, and other neurological or psychiatric diseases.

Axsome's lead commercial product is Auvelity (dextromethorphan hydrobromide and bupropion hydrochloride), an oral medicine approved in the United States for the treatment of major depressive disorder in adults.

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