Axsome Therapeutics (NASDAQ:AXSM) PT Lowered to $130.00

Axsome Therapeutics (NASDAQ:AXSM) had its price target reduced by Royal Bank of Canada from $131.00 to $130.00 in a report issued on Tuesday, Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley upgraded shares of Axsome Therapeutics from an equal weight rating to an overweight rating and lifted their target price for the stock from $90.00 to $115.00 in a research note on Monday, April 29th. Cantor Fitzgerald reissued an overweight rating and set a $107.00 target price on shares of Axsome Therapeutics in a report on Friday, July 26th. Robert W. Baird increased their target price on Axsome Therapeutics from $108.00 to $112.00 and gave the stock an outperform rating in a research report on Tuesday, May 7th. Mizuho reiterated a buy rating and issued a $106.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, June 12th. Finally, Bank of America raised Axsome Therapeutics from a neutral rating to a buy rating and increased their price objective for the stock from $95.00 to $106.00 in a report on Tuesday. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Axsome Therapeutics has an average rating of Moderate Buy and a consensus price target of $123.38.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $85.00 on Tuesday. The company has a market capitalization of $4.04 billion, a P/E ratio of -13.32 and a beta of 1.26. The business has a fifty day simple moving average of $79.95 and a two-hundred day simple moving average of $79.41. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.20 and a quick ratio of 3.09. Axsome Therapeutics has a 1 year low of $55.02 and a 1 year high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, May 6th. The company reported ($1.09) earnings per share for the quarter, topping the consensus estimate of ($1.20) by $0.11. The company had revenue of $75.00 million during the quarter, compared to analyst estimates of $69.91 million. Axsome Therapeutics had a negative return on equity of 87.17% and a negative net margin of 118.07%. On average, analysts expect that Axsome Therapeutics will post -4.65 earnings per share for the current year.

Insider Activity at Axsome Therapeutics

In other news, COO Mark L. Jacobson sold 7,910 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $74.31, for a total value of $587,792.10. Following the transaction, the chief operating officer now owns 5,783 shares of the company’s stock, valued at approximately $429,734.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Axsome Therapeutics news, Director Mark Coleman sold 5,249 shares of Axsome Therapeutics stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $75.21, for a total transaction of $394,777.29. Following the completion of the sale, the director now owns 19,848 shares of the company’s stock, valued at $1,492,768.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Mark L. Jacobson sold 7,910 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $74.31, for a total value of $587,792.10. Following the transaction, the chief operating officer now owns 5,783 shares in the company, valued at $429,734.73. The disclosure for this sale can be found here. 22.40% of the stock is currently owned by insiders.

Institutional Trading of Axsome Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of AXSM. SG Americas Securities LLC purchased a new position in shares of Axsome Therapeutics during the fourth quarter worth approximately $170,000. DAVENPORT & Co LLC bought a new stake in Axsome Therapeutics in the fourth quarter worth $304,000. WCM Investment Management LLC boosted its position in Axsome Therapeutics by 9.2% during the fourth quarter. WCM Investment Management LLC now owns 104,808 shares of the company’s stock valued at $8,345,000 after buying an additional 8,845 shares during the period. Phocas Financial Corp. bought a new position in shares of Axsome Therapeutics during the fourth quarter valued at about $2,140,000. Finally, Handelsbanken Fonder AB increased its holdings in shares of Axsome Therapeutics by 13.2% in the fourth quarter. Handelsbanken Fonder AB now owns 7,700 shares of the company’s stock worth $613,000 after buying an additional 900 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.