Axsome Therapeutics (NASDAQ:AXSM) Lowered to Sell Rating by StockNews.com

StockNews.com cut shares of Axsome Therapeutics (NASDAQ:AXSM) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

Several other research analysts also recently weighed in on AXSM. Cantor Fitzgerald reissued an “overweight” rating and issued a $107.00 target price on shares of Axsome Therapeutics in a research report on Monday, September 16th. Royal Bank of Canada boosted their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $95.00 to $106.00 in a research report on Tuesday, August 6th. UBS Group dropped their price target on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, HC Wainwright restated a “buy” rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Axsome Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $124.64.

Axsome Therapeutics Trading Up 9.4 %

NASDAQ:AXSM opened at $99.49 on Tuesday. The stock has a fifty day simple moving average of $90.55 and a 200 day simple moving average of $83.95. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of -15.28 and a beta of 1.26. Axsome Therapeutics has a 1-year low of $55.02 and a 1-year high of $101.50. The company has a quick ratio of 2.40, a current ratio of 2.48 and a debt-to-equity ratio of 1.77.

Insiders Place Their Bets

In related news, Director Mark E. Saad sold 11,016 shares of the firm’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 transaction, the director now directly owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 43,512 shares during the period. Millennium Management LLC boosted its holdings in Axsome Therapeutics by 1.4% during the second quarter. Millennium Management LLC now owns 739,819 shares of the company’s stock valued at $59,555,000 after acquiring an additional 10,401 shares during the period. Bellevue Group AG boosted its holdings in Axsome Therapeutics by 7.9% during the first quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock valued at $54,701,000 after acquiring an additional 50,104 shares during the period. Hood River Capital Management LLC grew its position in shares of Axsome Therapeutics by 5.4% in the second quarter. Hood River Capital Management LLC now owns 549,066 shares of the company’s stock valued at $44,200,000 after purchasing an additional 28,316 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Axsome Therapeutics by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 322,596 shares of the company’s stock worth $28,992,000 after purchasing an additional 12,778 shares during the period. Institutional investors and hedge funds 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.