Axsome Therapeutics (NASDAQ:AXSM) Shares Gap Down – Here’s Why

Axsome Therapeutics, Inc. (NASDAQ:AXSM) gapped down before the market opened on Tuesday . The stock had previously closed at $131.15, but opened at $124.66. Axsome Therapeutics shares last traded at $125.71, with a volume of 191,092 shares.

Analysts Set New Price Targets

AXSM has been the topic of several recent analyst reports. Leerink Partners boosted their target price on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft initiated coverage on Axsome Therapeutics in a research report on Tuesday, February 11th. They set a “buy” rating and a $176.00 price objective for the company. Bank of America lifted their target price on Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Truist Financial increased their price target on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $155.47.

Axsome Therapeutics Price Performance

The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The stock has a 50 day moving average of $99.64 and a two-hundred day moving average of $94.22. The firm has a market capitalization of $6.26 billion, a P/E ratio of -21.56 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.01. The business had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 195.76%. Sell-side analysts predict that Axsome Therapeutics, Inc. will post -2.26 earnings per share for the current fiscal year.

Insider Transactions at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the sale, the chief financial officer now owns 42,187 shares in the company, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 22.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Large investors have recently bought and sold shares of the stock. Raiffeisen Bank International AG bought a new position in shares of Axsome Therapeutics during the 4th quarter worth about $51,000. Assetmark Inc. acquired a new stake in Axsome Therapeutics during the fourth quarter worth about $52,000. R Squared Ltd bought a new position in Axsome Therapeutics during the fourth quarter valued at about $64,000. Aquatic Capital Management LLC acquired a new position in Axsome Therapeutics in the 4th quarter valued at approximately $76,000. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Axsome Therapeutics in the 4th quarter worth approximately $86,000. 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.