StockNews.com Upgrades Axsome Therapeutics (NASDAQ:AXSM) to “Hold”

StockNews.com upgraded shares of Axsome Therapeutics (NASDAQ:AXSM) from a sell rating to a hold rating in a research report report published on Wednesday morning.

Other research analysts have also issued reports about the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $107.00 target price on shares of Axsome Therapeutics in a report on Monday, September 16th. HC Wainwright reissued a “buy” rating and set a $180.00 target price on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Bank of America upgraded Axsome Therapeutics from a “neutral” rating to a “buy” rating and raised their target price for the company from $95.00 to $106.00 in a research note on Tuesday, August 6th. Wells Fargo & Company started coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 target price for the company. Finally, Robert W. Baird raised their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $124.93.

Axsome Therapeutics Stock Down 0.9 %

Shares of NASDAQ:AXSM opened at $94.60 on Wednesday. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of -14.79 and a beta of 1.26. The stock’s 50-day moving average price is $90.69 and its two-hundred day moving average price is $84.69. Axsome Therapeutics has a 12-month low of $58.61 and a 12-month high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The business had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $98.71 million. During the same period last year, the company earned ($1.32) earnings per share. On average, research analysts forecast that Axsome Therapeutics will post -4.75 EPS for the current year.

Insiders Place Their Bets

In related news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the sale, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. This represents a 52.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Axsome Therapeutics

A number of large investors have recently bought and sold shares of AXSM. Sei Investments Co. increased its position in Axsome Therapeutics by 8.2% in the first quarter. Sei Investments Co. now owns 35,654 shares of the company’s stock worth $2,845,000 after buying an additional 2,697 shares during the period. Russell Investments Group Ltd. grew its position in Axsome Therapeutics by 5,550.0% in the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after purchasing an additional 777 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Axsome Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock valued at $298,474,000 after purchasing an additional 43,512 shares during the period. Covestor Ltd grew its holdings in Axsome Therapeutics by 54,750.0% in the 1st quarter. Covestor Ltd now owns 1,097 shares of the company’s stock worth $88,000 after buying an additional 1,095 shares in the last quarter. Finally, Clearbridge Investments LLC acquired a new stake in Axsome Therapeutics in the 1st quarter valued at approximately $7,132,000. Institutional investors own 81.49% of the company’s stock.

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.