Axsome Therapeutics (NASDAQ:AXSM) Stock Price Down 4.9% – Should You Sell?

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) were down 4.9% during mid-day trading on Tuesday . The company traded as low as $126.28 and last traded at $122.87. Approximately 96,290 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 639,633 shares. The stock had previously closed at $129.17.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AXSM. Needham & Company LLC reiterated a “buy” rating and set a $153.00 target price on shares of Axsome Therapeutics in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on Axsome Therapeutics in a report on Tuesday, February 11th. They set a “buy” rating and a $176.00 price objective on the stock. Leerink Partners increased their target price on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Mizuho raised their target price on Axsome Therapeutics from $195.00 to $212.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $153.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Axsome Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $167.36.

Axsome Therapeutics Trading Down 1.0 %

The business’s fifty day moving average is $118.58 and its two-hundred day moving average is $100.78. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of -19.89 and a beta of 1.00.

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

Insider Activity

In related news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction 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 $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AXSM. Raiffeisen Bank International AG bought a new stake in Axsome Therapeutics in the fourth quarter valued at about $51,000. Assetmark Inc. bought a new stake in shares of Axsome Therapeutics in the 4th quarter valued at about $52,000. R Squared Ltd acquired a new stake in shares of Axsome Therapeutics in the 4th quarter valued at approximately $64,000. Aquatic Capital Management LLC bought a new position in Axsome Therapeutics during the 4th quarter worth approximately $76,000. Finally, GF Fund Management CO. LTD. acquired a new position in Axsome Therapeutics during the fourth quarter valued at approximately $86,000. Institutional investors and hedge funds 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.