Axsome Therapeutics (NASDAQ:AXSM) Shares Gap Down – What’s Next?

Axsome Therapeutics, Inc. (NASDAQ:AXSM)’s share price gapped down prior to trading 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 changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AXSM shares. Wells Fargo & Company upped their target price on Axsome Therapeutics from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $121.00 price objective on shares of Axsome Therapeutics in a report on Thursday, December 12th. Leerink Partners boosted their target price on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Mizuho raised their price target on shares of Axsome Therapeutics from $137.00 to $195.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $133.00 price objective on shares of Axsome Therapeutics in a research note on Monday, February 10th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.13.

Axsome Therapeutics Stock 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 firm’s 50-day moving average price is $98.47 and its two-hundred day moving average price is $93.68. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of -19.62 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. On average, analysts expect that Axsome Therapeutics, Inc. will post -4.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction dated 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 directly owns 42,187 shares in the company, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 22.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Raiffeisen Bank International AG purchased a new position in shares of Axsome Therapeutics during the 4th quarter worth approximately $51,000. Assetmark Inc. purchased a new position in shares of Axsome Therapeutics during the fourth quarter worth $52,000. R Squared Ltd acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at $64,000. Aquatic Capital Management LLC purchased a new stake in shares of Axsome Therapeutics in the 4th quarter valued at $76,000. Finally, KBC Group NV lifted its stake in Axsome Therapeutics by 40.5% during the 4th quarter. KBC Group NV now owns 1,336 shares of the company’s stock worth $113,000 after acquiring an additional 385 shares in the last quarter. 81.49% of the stock is currently 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.