Axsome Therapeutics (NASDAQ:AXSM) Receives “Overweight” Rating from Cantor Fitzgerald

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “overweight” rating reaffirmed by equities researchers at Cantor Fitzgerald in a note issued to investors on Wednesday, Benzinga reports. They presently have a $107.00 price target on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 49.17% from the company’s current price.

Other analysts have also issued research reports about the stock. HC Wainwright restated a “buy” rating and set a $190.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, April 2nd. Truist Financial restated a “buy” rating and set a $150.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, March 26th. Mizuho lifted their price objective on shares of Axsome Therapeutics from $108.00 to $109.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. UBS Group started coverage on shares of Axsome Therapeutics in a report on Tuesday, February 6th. They set a “buy” rating and a $111.00 price objective on the stock. Finally, Guggenheim lifted their price objective on shares of Axsome Therapeutics from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.67.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $71.73 on Wednesday. The firm has a market capitalization of $3.40 billion, a PE ratio of -13.79 and a beta of 1.13. The firm has a fifty day simple moving average of $80.63 and a two-hundred day simple moving average of $75.15. The company has a current ratio of 3.63, a quick ratio of 3.52 and a debt-to-equity ratio of 0.93. Axsome Therapeutics has a 12 month low of $55.02 and a 12 month high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.48. The business had revenue of $71.53 million during the quarter, compared to analyst estimates of $70.38 million. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. Analysts forecast that Axsome Therapeutics will post -3.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Roger Jeffs sold 29,976 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $69.70, for a total value of $2,089,327.20. Following the transaction, the director now directly owns 120,756 shares of the company’s stock, valued at approximately $8,416,693.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Mark L. Jacobson sold 24,662 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Roger Jeffs sold 29,976 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the completion of the transaction, the director now directly owns 120,756 shares in the company, valued at $8,416,693.20. The disclosure for this sale can be found here. 24.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Trexquant Investment LP purchased a new stake in Axsome Therapeutics during the third quarter valued at about $1,220,000. Kennedy Capital Management LLC lifted its holdings in Axsome Therapeutics by 24.2% during the third quarter. Kennedy Capital Management LLC now owns 12,092 shares of the company’s stock valued at $845,000 after purchasing an additional 2,354 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Axsome Therapeutics by 18.9% during the third quarter. Wellington Management Group LLP now owns 237,554 shares of the company’s stock valued at $16,603,000 after purchasing an additional 37,843 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Axsome Therapeutics by 403.8% during the third quarter. Victory Capital Management Inc. now owns 18,934 shares of the company’s stock valued at $1,323,000 after purchasing an additional 15,176 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in Axsome Therapeutics during the third quarter valued at about $10,427,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

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.