HC Wainwright Reiterates Buy Rating for Axsome Therapeutics (NASDAQ:AXSM)

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a report released on Tuesday, Benzinga reports. They presently have a $190.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 151.06% from the company’s current price.

A number of other research analysts have also recently issued reports on AXSM. Robert W. Baird lifted their price objective on Axsome Therapeutics from $108.00 to $112.00 and gave the company an “outperform” rating in a report on Tuesday. Guggenheim lifted their price objective on Axsome Therapeutics from $110.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Citigroup lifted their price objective on Axsome Therapeutics from $125.00 to $127.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. UBS Group started coverage on Axsome Therapeutics in a report on Tuesday, February 6th. They set a “buy” rating and a $111.00 price objective for the company. Finally, Piper Sandler lifted their price objective on Axsome Therapeutics from $90.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $121.92.

Axsome Therapeutics Trading Down 1.6 %

Shares of Axsome Therapeutics stock opened at $75.68 on Tuesday. The company’s fifty day simple moving average is $73.99 and its 200-day simple moving average is $75.73. The company has a market cap of $3.59 billion, a price-to-earnings ratio of -14.55 and a beta of 1.13. 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 1 year low of $55.02 and a 1 year high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($1.21) by $0.48. The firm had revenue of $71.53 million during the quarter, compared to analysts’ expectations of $70.38 million. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. As a group, sell-side analysts expect that Axsome Therapeutics will post -3.75 EPS for the current year.

Insider Activity

In other Axsome Therapeutics news, Director Roger Jeffs sold 29,976 shares of the business’s stock in a transaction that occurred on 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 owns 120,756 shares in the company, valued at approximately $8,416,693.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Axsome Therapeutics news, Director Roger Jeffs sold 29,976 shares of the business’s stock in a transaction that occurred on 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 owns 120,756 shares in the company, valued at approximately $8,416,693.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mark L. Jacobson sold 24,662 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The disclosure for this sale can be found here. 24.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its stake in shares of Axsome Therapeutics by 1.3% during the 4th quarter. Principal Financial Group Inc. now owns 9,497 shares of the company’s stock worth $756,000 after purchasing an additional 120 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Axsome Therapeutics by 0.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 17,999 shares of the company’s stock worth $1,433,000 after purchasing an additional 135 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Axsome Therapeutics by 1.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 18,734 shares of the company’s stock worth $1,309,000 after purchasing an additional 197 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Axsome Therapeutics by 100.0% during the 3rd quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its stake in shares of Axsome Therapeutics by 4.7% during the 3rd quarter. Rafferty Asset Management LLC now owns 4,560 shares of the company’s stock worth $319,000 after purchasing an additional 205 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

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.