HC Wainwright Reaffirms "Buy" Rating for Axsome Therapeutics (NASDAQ:AXSM)

HC Wainwright reissued their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM - Free Report) in a research report report published on Tuesday, Benzinga reports. HC Wainwright currently has a $190.00 target price on the stock.

Other equities analysts also recently issued research reports about the company. UBS Group initiated coverage on Axsome Therapeutics in a research report on Tuesday, February 6th. They set a buy rating and a $111.00 target price on the stock. Citigroup increased their target price on shares of Axsome Therapeutics from $125.00 to $127.00 and gave the company a buy rating in a research note on Tuesday, March 26th. Cantor Fitzgerald reaffirmed an overweight rating and set a $107.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, April 10th. Robert W. Baird increased their price objective on shares of Axsome Therapeutics from $108.00 to $112.00 and gave the stock an outperform rating in a research report on Tuesday. Finally, Guggenheim boosted their target price on Axsome Therapeutics from $110.00 to $125.00 and gave the company a buy rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, Axsome Therapeutics presently has a consensus rating of Moderate Buy and a consensus target price of $122.17.

Axsome Therapeutics Price Performance

Axsome Therapeutics stock traded up $1.00 during mid-day trading on Tuesday, reaching $76.94. 1,284,522 shares of the company's stock traded hands, compared to its average volume of 715,307. Axsome Therapeutics has a 12-month low of $55.02 and a 12-month high of $98.40. The company has a market cap of $3.65 billion, a price-to-earnings ratio of -14.80 and a beta of 1.13. The stock has a 50 day moving average of $74.14 and a two-hundred day moving average of $75.73. The company has a quick ratio of 3.52, a current ratio of 3.63 and a debt-to-equity ratio of 0.93.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($1.21) by $0.48. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. The company had revenue of $71.53 million during the quarter, compared to analyst estimates of $70.38 million. Equities analysts forecast that Axsome Therapeutics will post -3.75 earnings per share for the current year.

Insider Buying and Selling

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 24,662 shares of Axsome Therapeutics stock in a transaction on Monday, April 1st. The stock was sold at an average price of $77.24, for a total transaction of $1,904,892.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics 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 transaction, the director now directly owns 120,756 shares of the company's stock, valued at $8,416,693.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Mark L. Jacobson sold 24,662 shares of the company's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $77.24, for a total value of $1,904,892.88. The disclosure for this sale can be found here. 24.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its position in Axsome Therapeutics by 1.3% during the 4th quarter. Principal Financial Group Inc. now owns 9,497 shares of the company's stock valued at $756,000 after buying an additional 120 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Axsome Therapeutics by 0.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 17,999 shares of the company's stock valued at $1,433,000 after acquiring an additional 135 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Axsome Therapeutics by 1.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 18,734 shares of the company's stock valued at $1,309,000 after purchasing an additional 197 shares during the last quarter. Fifth Third Bancorp boosted its stake in Axsome Therapeutics by 100.0% in the 3rd quarter. Fifth Third Bancorp now owns 400 shares of the company's stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its position in Axsome Therapeutics by 4.7% during the 3rd quarter. Rafferty Asset Management LLC now owns 4,560 shares of the company's stock worth $319,000 after purchasing an additional 205 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

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.