Weiss Ratings Reiterates Sell (D-) Rating for Axsome Therapeutics (NASDAQ:AXSM)

Key Points

• Weiss Ratings has reiterated a "sell (D-)" rating for Axsome Therapeutics, indicating continued concerns about its stock performance.
• Despite the sell rating from Weiss, other analysts have given Axsome stocks stronger ratings, with an average target price of $178.20.
• Insider activity raised red flags as significant shares were sold by the COO and CEO, reducing their ownership stake considerably.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report)'s stock had its "sell (d-)" rating restated by investment analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

AXSM has been the subject of a number of other research reports. Wells Fargo & Company raised shares of Axsome Therapeutics to a "strong-buy" rating in a research report on Wednesday, September 3rd. Bank of America lifted their target price on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Needham & Company LLC reaffirmed a "buy" rating and issued a $150.00 target price on shares of Axsome Therapeutics in a research report on Monday, August 4th. B. Riley began coverage on shares of Axsome Therapeutics in a research report on Wednesday, October 1st. They issued a "buy" rating and a $179.00 target price for the company. Finally, Morgan Stanley boosted their price objective on shares of Axsome Therapeutics from $191.00 to $194.00 and gave the company an "overweight" rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $178.20.

Axsome Therapeutics Stock Up 1.9%

NASDAQ AXSM traded up $2.43 during mid-day trading on Friday, reaching $129.49. The stock had a trading volume of 530,519 shares, compared to its average volume of 715,982. Axsome Therapeutics has a 1 year low of $75.56 and a 1 year high of $139.13. The stock has a market cap of $6.46 billion, a PE ratio of -25.54 and a beta of 0.52. The company has a fifty day moving average price of $120.78 and a 200 day moving average price of $110.98. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.51.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported ($0.92) earnings per share for the quarter, topping analysts' consensus estimates of ($1.00) by $0.08. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. The company had revenue of $150.04 million during the quarter, compared to analyst estimates of $140.02 million. On average, research analysts expect that Axsome Therapeutics will post -2.79 earnings per share for the current year.

Insider Activity at Axsome Therapeutics

In other news, COO Mark L. Jacobson sold 45,783 shares of the company's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $114.48, for a total transaction of $5,241,237.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Herriot Tabuteau sold 27,907 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $118.96, for a total transaction of $3,319,816.72. Following the sale, the chief executive officer owned 7,229 shares in the company, valued at $859,961.84. This represents a 79.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 243,332 shares of company stock worth $28,824,746. 22.30% of the stock is owned by corporate insiders.

Institutional Trading of Axsome Therapeutics

Several hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd purchased a new stake in Axsome Therapeutics in the 1st quarter worth about $25,000. Quantbot Technologies LP purchased a new position in shares of Axsome Therapeutics in the first quarter worth $31,000. AlphaQuest LLC purchased a new position in shares of Axsome Therapeutics in the first quarter worth $38,000. Neo Ivy Capital Management purchased a new position in shares of Axsome Therapeutics in the first quarter worth $41,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Axsome Therapeutics in the first quarter worth $47,000. 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.

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