Axsome Therapeutics (NASDAQ:AXSM) Shares Gap Up to $71.71

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $71.71, but opened at $74.97. Axsome Therapeutics shares last traded at $75.01, with a volume of 94,798 shares trading hands.

Analyst Ratings Changes

AXSM has been the subject of several recent analyst reports. HC Wainwright reiterated a "buy" rating and issued a $190.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, April 2nd. Royal Bank of Canada raised their price objective on shares of Axsome Therapeutics from $123.00 to $128.00 and gave the company an "outperform" rating in a research note on Tuesday, March 26th. Piper Sandler raised their price objective on shares of Axsome Therapeutics from $90.00 to $113.00 and gave the company an "overweight" rating in a research note on Tuesday, January 16th. Cantor Fitzgerald restated an "overweight" rating and set a $107.00 target price on shares of Axsome Therapeutics in a research report on Wednesday, April 10th. Finally, Truist Financial restated a "buy" rating and set a $150.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $122.00.

Axsome Therapeutics Trading Up 2.8 %

The business's 50-day moving average price is $74.91 and its two-hundred day moving average price is $75.33. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.63 and a quick ratio of 3.52. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of -14.17 and a beta of 1.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) earnings per share for the quarter, beating analysts' consensus estimates of ($1.21) by $0.48. The business had revenue of $71.53 million during the quarter, compared to analyst estimates of $70.38 million. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. Equities analysts expect that Axsome Therapeutics, Inc. will post -3.81 earnings per share for the current year.

Insider Activity

In other news, Director Roger Jeffs sold 29,976 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total value of $2,089,327.20. Following the completion of the transaction, the director now owns 120,756 shares of the company's stock, valued at $8,416,693.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Mark L. Jacobson sold 24,662 shares of the business's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roger Jeffs sold 29,976 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the completion of the sale, the director now owns 120,756 shares of the company's stock, valued at $8,416,693.20. The disclosure for this sale can be found here. Company insiders own 24.50% of the company's stock.

Institutional Investors Weigh In On Axsome Therapeutics

Institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its stake in Axsome Therapeutics by 1.3% during the fourth quarter. Principal Financial Group Inc. now owns 9,497 shares of the company's stock worth $756,000 after buying an additional 120 shares during the period. CIBC Private Wealth Group LLC grew its stake in Axsome Therapeutics by 0.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 17,999 shares of the company's stock worth $1,433,000 after buying an additional 135 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Axsome Therapeutics by 1.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 18,734 shares of the company's stock worth $1,309,000 after buying an additional 197 shares during the period. Fifth Third Bancorp grew its stake in Axsome Therapeutics by 100.0% during the third quarter. Fifth Third Bancorp now owns 400 shares of the company's stock worth $28,000 after buying an additional 200 shares during the period. Finally, Rafferty Asset Management LLC grew its stake in Axsome Therapeutics by 4.7% during the third quarter. Rafferty Asset Management LLC now owns 4,560 shares of the company's stock worth $319,000 after buying an additional 205 shares during the period. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

About Axsome Therapeutics

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.