Axsome Therapeutics (NASDAQ:AXSM - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They presently have a $180.00 price target on the stock. HC Wainwright's price objective would suggest a potential upside of 63.77% from the company's previous close.
AXSM has been the subject of a number of other reports. Royal Bank of Canada upped their target price on Axsome Therapeutics from $190.00 to $193.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Truist Financial raised their price objective on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Mizuho upped their target price on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an "outperform" rating in a research note on Thursday, March 27th. Needham & Company LLC dropped their price target on shares of Axsome Therapeutics from $153.00 to $150.00 and set a "buy" rating for the company in a research report on Monday. Finally, Jefferies Financial Group assumed coverage on Axsome Therapeutics in a report on Monday, April 7th. They set a "buy" rating and a $200.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Axsome Therapeutics presently has a consensus rating of "Buy" and an average price target of $172.80.
Read Our Latest Report on AXSM
Axsome Therapeutics Stock Performance
NASDAQ:AXSM traded up $0.04 during mid-day trading on Tuesday, hitting $109.91. 704,336 shares of the company's stock traded hands, compared to its average volume of 691,870. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of -18.35 and a beta of 0.47. The firm has a 50 day moving average of $105.94 and a two-hundred day moving average of $106.81. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $139.13.
Insider Buying and Selling
In other news, Director Mark Coleman sold 3,000 shares of the business's stock in a transaction dated 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 transaction, the director now directly owns 54,137 shares in the company, valued at approximately $5,819,186.13. The trade was a 5.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mark L. Jacobson sold 20,000 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $103.45, for a total transaction of $2,069,000.00. Following the transaction, the chief operating officer now directly owns 5,783 shares in the company, valued at $598,251.35. The trade was a 77.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,423 shares of company stock valued at $4,950,619 over the last three months. Company insiders own 22.30% of the company's stock.
Hedge Funds Weigh In On Axsome Therapeutics
Several institutional investors and hedge funds have recently made changes to their positions in AXSM. Caitong International Asset Management Co. Ltd bought a new position in Axsome Therapeutics in the first quarter valued at approximately $25,000. Quantbot Technologies LP bought a new stake in Axsome Therapeutics in the 1st quarter valued at $31,000. NBC Securities Inc. acquired a new position in Axsome Therapeutics in the 1st quarter worth $31,000. AlphaQuest LLC bought a new position in Axsome Therapeutics during the 1st quarter worth about $38,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Axsome Therapeutics in the 1st quarter valued at about $41,000. Institutional investors and hedge funds own 81.49% of the company's stock.
About Axsome Therapeutics
(
Get Free Report)
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.
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