Analysts Set Axsome Therapeutics, Inc. (NASDAQ:AXSM) Price Target at $124.57

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has earned an average rating of “Buy” from the fourteen analysts that are presently covering the stock, MarketBeat Ratings reports. Fourteen analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $124.57.

A number of brokerages recently weighed in on AXSM. UBS Group cut their price target 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. Wells Fargo & Company started coverage on shares of Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price objective on shares of Axsome Therapeutics in a report on Thursday, September 5th. Mizuho reaffirmed a “buy” rating and set a $106.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, June 12th. Finally, Bank of America upgraded Axsome Therapeutics from a “neutral” rating to a “buy” rating and upped their price target for the company from $95.00 to $106.00 in a research report on Tuesday, August 6th.

Axsome Therapeutics Price Performance

AXSM opened at $92.41 on Thursday. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.48 and a quick ratio of 2.40. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of -14.48 and a beta of 1.25. The firm’s fifty day moving average price is $87.10 and its two-hundred day moving average price is $79.23. Axsome Therapeutics has a 1 year low of $55.02 and a 1 year high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, August 5th. The company reported ($1.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.06. The firm had revenue of $87.17 million for the quarter, compared to the consensus estimate of $84.53 million. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. As a group, analysts anticipate that Axsome Therapeutics will post -4.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the transaction, the director now directly owns 10,002 shares in the company, valued at $913,282.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Axsome Therapeutics news, COO Mark L. Jacobson sold 47,739 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $84.26, for a total value of $4,022,488.14. Following the completion of the sale, the chief operating officer now owns 5,783 shares of the company’s stock, valued at $487,275.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the sale, the director now directly owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. The disclosure for this sale can be found here. 22.40% of the stock is owned by company insiders.

Institutional Trading of Axsome Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in Axsome Therapeutics by 1.3% in 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 in the last quarter. CIBC Private Wealth Group LLC boosted its stake in Axsome Therapeutics by 0.8% in 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 in the last quarter. Natixis boosted its stake in Axsome Therapeutics by 13.6% in the first quarter. Natixis now owns 1,235 shares of the company’s stock worth $99,000 after buying an additional 148 shares in the last quarter. Arizona State Retirement System boosted its stake in Axsome Therapeutics by 2.1% in the second quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock worth $695,000 after buying an additional 177 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in Axsome Therapeutics in the second quarter worth approximately $27,000. 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.