HC Wainwright Cuts Axsome Therapeutics (NASDAQ:AXSM) Price Target to $180.00

Axsome Therapeutics (NASDAQ:AXSM) had its price target reduced by HC Wainwright from $200.00 to $180.00 in a report released on Wednesday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

AXSM has been the topic of several other reports. Bank of America boosted their target price on Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Wells Fargo & Company restated an “overweight” rating and set a $165.00 price objective (up previously from $160.00) on shares of Axsome Therapeutics in a report on Tuesday. Leerink Partners lifted their target price on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft assumed coverage on Axsome Therapeutics in a research note on Tuesday, February 11th. They set a “buy” rating and a $176.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $153.00 price objective on shares of Axsome Therapeutics in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $172.14.

Axsome Therapeutics Stock Down 1.0 %

Shares of Axsome Therapeutics stock opened at $107.76 on Wednesday. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of -17.99 and a beta of 0.46. The firm’s 50-day moving average is $112.01 and its two-hundred day moving average is $104.51. Axsome Therapeutics has a 1 year low of $64.11 and a 1 year high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The business had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. As a group, research analysts expect that Axsome Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 22.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. NBC Securities Inc. acquired a new stake in Axsome Therapeutics in the first quarter valued at approximately $31,000. Neo Ivy Capital Management purchased a new stake in shares of Axsome Therapeutics in the 1st quarter valued at approximately $41,000. Raiffeisen Bank International AG purchased a new stake in shares of Axsome Therapeutics during the 4th quarter worth $51,000. Assetmark Inc. acquired a new stake in shares of Axsome Therapeutics during the 4th quarter worth about $52,000. Finally, R Squared Ltd purchased a new stake in Axsome Therapeutics during the fourth quarter worth approximately $64,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.