Axsome Therapeutics (NASDAQ:AXSM) Earns Buy Rating from HC Wainwright

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report)'s stock had its "buy" rating reissued by research analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They presently have a $180.00 price objective on the stock. HC Wainwright's target price points to a potential upside of 72.91% from the company's current price.

A number of other equities research analysts also recently issued reports on AXSM. Cantor Fitzgerald raised Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, May 14th. Royal Bank of Canada boosted their price objective on Axsome Therapeutics from $190.00 to $193.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Needham & Company LLC decreased their price objective on shares of Axsome Therapeutics from $153.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday. William Blair reaffirmed an "outperform" rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Finally, Truist Financial increased their price target 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. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $172.33.

Axsome Therapeutics Price Performance

Shares of AXSM traded down $2.15 during mid-day trading on Tuesday, reaching $104.10. The company had a trading volume of 425,883 shares, compared to its average volume of 676,588. The company's 50 day simple moving average is $106.45 and its 200 day simple moving average is $106.95. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of -17.38 and a beta of 0.47. Axsome Therapeutics has a 1-year low of $71.15 and a 1-year high of $139.13. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11.

Insider Buying and Selling

In related news, COO Mark L. Jacobson sold 25,000 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the sale, the chief operating officer now directly owns 5,783 shares of the company's stock, valued at $638,674.52. This trade represents a 81.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Coleman sold 3,750 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $105.47, for a total value of $395,512.50. Following the completion of the sale, the director now directly owns 50,387 shares in the company, valued at approximately $5,314,316.89. The trade was a 6.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,423 shares of company stock valued at $7,711,619 over the last quarter. 22.30% of the stock is currently owned by company insiders.

Institutional Trading of Axsome Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new position in Axsome Therapeutics in the first quarter worth approximately $25,000. NBC Securities Inc. acquired a new position in shares of Axsome Therapeutics in the 1st quarter valued at $31,000. Quantbot Technologies LP purchased a new position in shares of Axsome Therapeutics during the 1st quarter worth $31,000. AlphaQuest LLC acquired a new stake in shares of Axsome Therapeutics during the 1st quarter worth about $38,000. Finally, Neo Ivy Capital Management purchased a new stake in Axsome Therapeutics in the 1st quarter valued at about $41,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Axsome Therapeutics Company Profile

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.