Axsome Therapeutics, Inc. (NASDAQ:AXSM) Given Average Recommendation of “Buy” by Brokerages

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have earned an average rating of “Buy” from the thirteen research firms that are covering the firm, Marketbeat Ratings reports. Thirteen research analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $123.38.

Several analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a report on Friday, July 26th. HC Wainwright reaffirmed a “buy” rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research report on Thursday. UBS Group cut their price objective on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Bank of America raised shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $95.00 to $106.00 in a research note on Tuesday, August 6th. Finally, Mizuho reaffirmed a “buy” rating and set a $106.00 target price on shares of Axsome Therapeutics in a research report on Wednesday, June 12th.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 7,910 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $74.31, for a total transaction of $587,792.10. Following the transaction, the chief operating officer now owns 5,783 shares in the company, valued at approximately $429,734.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Axsome Therapeutics news, COO Mark L. Jacobson sold 7,910 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total transaction of $587,792.10. Following the sale, the chief operating officer now owns 5,783 shares in the company, valued at approximately $429,734.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark Coleman sold 5,249 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $75.21, for a total value of $394,777.29. Following the completion of the transaction, the director now directly owns 19,848 shares in the company, valued at $1,492,768.08. The disclosure for this sale can be found here. Insiders sold 60,898 shares of company stock valued at $5,005,058 in the last three months. 22.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Axsome Therapeutics

A number of institutional investors have recently bought and sold shares of AXSM. Avidity Partners Management LP boosted its holdings in shares of Axsome Therapeutics by 54.8% in the 4th quarter. Avidity Partners Management LP now owns 459,400 shares of the company’s stock valued at $36,564,000 after acquiring an additional 162,600 shares during the last quarter. Jump Financial LLC purchased a new stake in Axsome Therapeutics in the fourth quarter valued at $669,000. Vanguard Group Inc. grew its position in Axsome Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock worth $298,474,000 after purchasing an additional 43,512 shares during the period. Bellevue Group AG raised its stake in shares of Axsome Therapeutics by 7.9% during the 1st quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock valued at $54,701,000 after buying an additional 50,104 shares during the last quarter. Finally, Affinity Asset Advisors LLC acquired a new position in shares of Axsome Therapeutics in the 4th quarter valued at about $3,980,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Trading Up 1.0 %

Shares of NASDAQ AXSM opened at $87.99 on Friday. Axsome Therapeutics has a twelve month low of $55.02 and a twelve month high of $98.40. The firm has a market cap of $4.18 billion, a PE ratio of -13.79 and a beta of 1.26. The business has a fifty day simple moving average of $83.11 and a two-hundred day simple moving average of $78.96. The company has a quick ratio of 3.09, a current ratio of 3.20 and a debt-to-equity ratio of 1.25.

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.