Axsome Therapeutics’ (AXSM) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research note released on Monday, Benzinga reports. They currently have a $131.00 price target on the stock.

Several other brokerages have also recently issued reports on AXSM. Morgan Stanley raised Axsome Therapeutics from an equal weight rating to an overweight rating and boosted their price objective for the company from $90.00 to $115.00 in a report on Monday, April 29th. Robert W. Baird upped their price target on Axsome Therapeutics from $108.00 to $112.00 and gave the stock an outperform rating in a report on Tuesday, May 7th. Bank of America reduced their price target on Axsome Therapeutics from $97.00 to $95.00 and set a neutral rating for the company in a report on Thursday, July 18th. Mizuho reaffirmed a buy rating and issued a $106.00 price target on shares of Axsome Therapeutics in a report on Wednesday, June 12th. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $107.00 price target on shares of Axsome Therapeutics in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Axsome Therapeutics presently has an average rating of Moderate Buy and a consensus price target of $123.85.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $85.23 on Monday. The stock has a 50-day moving average of $78.16 and a two-hundred day moving average of $79.50. Axsome Therapeutics has a one year low of $55.02 and a one year high of $98.40. The company has a debt-to-equity ratio of 1.25, a quick ratio of 3.09 and a current ratio of 3.20. The stock has a market cap of $4.05 billion, a P/E ratio of -13.36 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, May 6th. The company reported ($1.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.20) by $0.11. The business had revenue of $75.00 million during the quarter, compared to analysts’ expectations of $69.91 million. Axsome Therapeutics had a negative return on equity of 87.17% and a negative net margin of 118.07%. As a group, research analysts predict that Axsome Therapeutics will post -4.66 EPS for the current year.

Insider Activity

In other news, COO Mark L. Jacobson sold 7,910 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total value of $587,792.10. Following the completion of the sale, the chief operating officer now directly owns 5,783 shares in the company, valued at $429,734.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Mark L. Jacobson sold 7,910 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total value of $587,792.10. Following the completion of the sale, the chief operating officer now directly owns 5,783 shares in the company, valued at $429,734.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Coleman sold 5,249 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $75.21, for a total value of $394,777.29. Following the completion of the sale, the director now owns 19,848 shares of the company’s stock, valued at $1,492,768.08. The disclosure for this sale can be found here. Company insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Washington Trust Advisors Inc. acquired a new position in Axsome Therapeutics in the fourth quarter valued at approximately $26,000. EntryPoint Capital LLC acquired a new position in Axsome Therapeutics in the first quarter valued at approximately $35,000. Russell Investments Group Ltd. lifted its holdings in Axsome Therapeutics by 5,550.0% in the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after acquiring an additional 777 shares during the last quarter. Covestor Ltd lifted its stake in Axsome Therapeutics by 54,750.0% during the first quarter. Covestor Ltd now owns 1,097 shares of the company’s stock worth $88,000 after purchasing an additional 1,095 shares in the last quarter. Finally, Janiczek Wealth Management LLC acquired a new position in Axsome Therapeutics during the first quarter worth $97,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.