Axsome Therapeutics (NASDAQ:AXSM) Rating Reiterated by HC Wainwright

Axsome Therapeutics (NASDAQ:AXSMGet Free Report)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a note issued to investors on Thursday, Benzinga reports. They presently have a $190.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 156.44% from the stock’s previous close.

AXSM has been the subject of several other reports. Guggenheim raised their price target on Axsome Therapeutics from $110.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Mizuho reduced their price objective on shares of Axsome Therapeutics from $109.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Royal Bank of Canada upped their target price on shares of Axsome Therapeutics from $127.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and set a $107.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, April 10th. Finally, Robert W. Baird upped their price objective on Axsome Therapeutics from $108.00 to $112.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $122.08.

View Our Latest Report on Axsome Therapeutics

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $74.09 on Thursday. The company’s fifty day moving average price is $73.82 and its 200-day moving average price is $77.61. The stock has a market cap of $3.52 billion, a PE ratio of -11.61 and a beta of 1.25. The company has a current ratio of 3.20, a quick ratio of 3.09 and a debt-to-equity ratio of 1.25. Axsome Therapeutics has a 12 month low of $55.02 and a 12 month high of $98.40.

Axsome Therapeutics (NASDAQ:AXSMGet Free Report) last announced its quarterly earnings data on Monday, May 6th. The company reported ($1.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.11. Axsome Therapeutics had a negative net margin of 118.07% and a negative return on equity of 87.17%. The business had revenue of $75.00 million for the quarter, compared to analysts’ expectations of $69.91 million. On average, equities analysts expect that Axsome Therapeutics will post -4.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Mark L. Jacobson sold 7,910 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $74.31, for a total transaction of $587,792.10. Following the sale, the chief operating officer now directly owns 5,783 shares in the company, valued at approximately $429,734.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Axsome Therapeutics news, Director Roger Jeffs sold 29,976 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the completion of the sale, 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 SEC, which is available at this link. Also, COO Mark L. Jacobson sold 7,910 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $74.31, for a total transaction of $587,792.10. Following the sale, the chief operating officer now owns 5,783 shares in the company, valued at approximately $429,734.73. The disclosure for this sale can be found here. Insiders sold a total of 67,797 shares of company stock worth $4,976,789 over the last three months. 22.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several large investors have recently made changes to their positions in AXSM. Victory Capital Management Inc. grew its holdings in shares of Axsome Therapeutics by 403.8% in 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 in the last quarter. Barclays PLC grew its stake in shares of Axsome Therapeutics by 22,927.4% in the 3rd quarter. Barclays PLC now owns 16,810 shares of the company’s stock worth $1,175,000 after buying an additional 16,737 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of Axsome Therapeutics by 6.0% in the 3rd quarter. New York State Common Retirement Fund now owns 24,995 shares of the company’s stock worth $1,747,000 after buying an additional 1,425 shares during the last quarter. Amalgamated Bank raised its position in shares of Axsome Therapeutics by 5.2% during the 3rd quarter. Amalgamated Bank now owns 5,229 shares of the company’s stock valued at $365,000 after buying an additional 257 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Axsome Therapeutics by 23.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 5,560 shares of the company’s stock valued at $389,000 after acquiring an additional 1,073 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

About Axsome Therapeutics

(Get Free Report)

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.

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