Axsome Therapeutics (NASDAQ:AXSM) Upgraded by StockNews.com to “Hold” Rating

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

Other analysts also recently issued reports about the company. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $95.00 to $106.00 in a report on Tuesday, August 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a report on Monday, September 16th. Wells Fargo & Company initiated coverage on shares of Axsome Therapeutics in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 target price on the stock. Robert W. Baird increased their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, UBS Group decreased their price target on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $124.93.

Axsome Therapeutics Trading Down 0.9 %

NASDAQ:AXSM opened at $94.60 on Wednesday. Axsome Therapeutics has a 1 year low of $58.61 and a 1 year high of $105.00. The stock has a market cap of $4.58 billion, a P/E ratio of -14.79 and a beta of 1.26. 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 simple moving average of $90.69 and a 200-day simple moving average of $84.69.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.38) by $0.04. The company had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same period in the prior year, the firm posted ($1.32) earnings per share. As a group, analysts anticipate that Axsome Therapeutics will post -4.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the transaction, the director now owns 10,002 shares in the company, valued at $913,282.62. This trade represents a 52.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 22.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Axsome Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Sofinnova Investments Inc. acquired a new position in Axsome Therapeutics during the second quarter worth about $24,971,000. Iron Triangle Partners LP acquired a new position in shares of Axsome Therapeutics during the 3rd quarter worth approximately $22,671,000. Tri Locum Partners LP lifted its stake in Axsome Therapeutics by 198.4% in the 2nd quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock valued at $24,674,000 after buying an additional 203,802 shares in the last quarter. FMR LLC grew its holdings in Axsome Therapeutics by 20.6% during the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after buying an additional 185,951 shares during the last quarter. Finally, Hood River Capital Management LLC increased its position in Axsome Therapeutics by 32.6% during the first quarter. Hood River Capital Management LLC now owns 520,750 shares of the company’s stock worth $41,556,000 after buying an additional 127,997 shares in the last quarter. 81.49% of the stock is 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.