Axsome Therapeutics (NASDAQ:AXSM) Shares Gap Up to $71.71

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) gapped up before the market opened on Monday . The stock had previously closed at $71.71, but opened at $74.97. Axsome Therapeutics shares last traded at $75.01, with a volume of 94,798 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, April 10th. Morgan Stanley raised Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $90.00 to $115.00 in a report on Monday. Guggenheim boosted their price objective on Axsome Therapeutics from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Citigroup increased their target price on Axsome Therapeutics from $125.00 to $127.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Finally, Royal Bank of Canada boosted their price target on shares of Axsome Therapeutics from $123.00 to $128.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $122.00.

Axsome Therapeutics Stock Up 0.1 %

The company has a quick ratio of 3.52, a current ratio of 3.63 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $3.49 billion, a PE ratio of -14.18 and a beta of 1.13. The business has a 50-day moving average price of $74.76 and a 200-day moving average price of $75.38.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.21) by $0.48. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. The company had revenue of $71.53 million during the quarter, compared to analysts’ expectations of $70.38 million. Equities research analysts forecast that Axsome Therapeutics, Inc. will post -3.81 earnings per share for the current fiscal year.

Insider Activity at Axsome Therapeutics

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

Institutional Trading of Axsome Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB grew its stake in shares of Axsome Therapeutics by 9.7% in the third quarter. Handelsbanken Fonder AB now owns 6,800 shares of the company’s stock valued at $475,000 after buying an additional 600 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Axsome Therapeutics by 30.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 6,741 shares of the company’s stock valued at $471,000 after acquiring an additional 1,558 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Axsome Therapeutics by 1.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 18,734 shares of the company’s stock valued at $1,309,000 after acquiring an additional 197 shares in the last quarter. Bank of New York Mellon Corp grew its position in Axsome Therapeutics by 4.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 168,006 shares of the company’s stock valued at $11,742,000 after acquiring an additional 6,920 shares in the last quarter. Finally, AtonRa Partners purchased a new stake in Axsome Therapeutics during the third quarter worth about $362,000. 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.