Cantor Fitzgerald Reaffirms Overweight Rating for Axsome Therapeutics (NASDAQ:AXSM)

Cantor Fitzgerald reiterated their overweight rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research note released on Friday, Benzinga reports. They currently have a $107.00 price target on the stock.

Other analysts also recently issued reports about the company. Mizuho restated a buy rating and set a $106.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, June 12th. Bank of America dropped their price objective on Axsome Therapeutics from $97.00 to $95.00 and set a neutral rating for the company in a report on Thursday, July 18th. Citigroup dropped their price objective on Axsome Therapeutics from $127.00 to $125.00 and set a buy rating for the company in a report on Tuesday, May 7th. HC Wainwright restated a buy rating and set a $190.00 price objective on shares of Axsome Therapeutics in a report on Thursday, June 6th. Finally, Royal Bank of Canada restated an outperform rating and set a $131.00 price objective on shares of Axsome Therapeutics in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Axsome Therapeutics currently has a consensus rating of Moderate Buy and a consensus target price of $123.85.

Axsome Therapeutics Trading Down 2.7 %

Shares of AXSM opened at $84.17 on Friday. The stock has a fifty day moving average of $78.67 and a two-hundred day moving average of $79.37. 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 company has a market capitalization of $4.00 billion, a PE ratio of -13.19 and a beta of 1.26. Axsome Therapeutics has a fifty-two week low of $55.02 and a fifty-two week high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Monday, May 6th. The company reported ($1.09) earnings per share for the quarter, beating the consensus estimate of ($1.20) by $0.11. The company had revenue of $75.00 million during the quarter, compared to the consensus estimate 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, analysts forecast that Axsome Therapeutics will post -4.65 EPS for the current year.

Insider Activity

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

Institutional Trading of Axsome Therapeutics

Several large investors have recently modified their holdings of AXSM. Principal Financial Group Inc. grew its stake in Axsome Therapeutics by 1.3% in the fourth 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 grew its stake in Axsome Therapeutics by 0.8% in the fourth 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. Natixis grew its stake in Axsome Therapeutics by 13.6% in the first quarter. Natixis now owns 1,235 shares of the company’s stock worth $99,000 after purchasing an additional 148 shares in the last quarter. Washington Trust Advisors Inc. acquired a new position in Axsome Therapeutics in the fourth quarter worth about $26,000. Finally, Oak Ridge Investments LLC grew its stake in Axsome Therapeutics by 2.7% in the first quarter. Oak Ridge Investments LLC now owns 15,930 shares of the company’s stock worth $1,271,000 after purchasing an additional 413 shares in the last quarter. 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.