Axsome Therapeutics’ (AXSM) “Equal Weight” Rating Reiterated at Morgan Stanley

Morgan Stanley restated their equal weight rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a report issued on Thursday, Marketbeat reports. They currently have a $204.00 price target on the stock, up from their previous price target of $196.00.

A number of other equities analysts have also commented on the company. UBS Group raised their price target on Axsome Therapeutics from $163.00 to $248.00 and gave the stock a “buy” rating in a report on Tuesday. Royal Bank Of Canada increased their price objective on Axsome Therapeutics from $189.00 to $198.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Guggenheim reaffirmed a “buy” rating and set a $205.00 target price on shares of Axsome Therapeutics in a report on Friday, January 2nd. Needham & Company LLC reiterated a “buy” rating and set a $225.00 price target on shares of Axsome Therapeutics in a research report on Monday, January 5th. Finally, Wells Fargo & Company cut their price objective on shares of Axsome Therapeutics from $163.00 to $157.00 and set an “overweight” rating for the company in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $192.35.

Axsome Therapeutics Price Performance

NASDAQ AXSM opened at $169.38 on Thursday. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. The company has a market cap of $8.54 billion, a PE ratio of -36.27, a price-to-earnings-growth ratio of 8.93 and a beta of 0.44. Axsome Therapeutics has a 52 week low of $79.19 and a 52 week high of $184.40. The firm’s 50-day simple moving average is $150.91 and its two-hundred day simple moving average is $127.99.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.12). The business had revenue of $170.99 million during the quarter, compared to analysts’ expectations of $162.96 million. Axsome Therapeutics had a negative return on equity of 277.31% and a negative net margin of 40.90%.The company’s revenue for the quarter was up 63.2% compared to the same quarter last year. Research analysts predict that Axsome Therapeutics will post -2.79 earnings per share for the current year.

Insider Activity

In other news, Director Mark E. Saad sold 37,577 shares of the company’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $165.18, for a total value of $6,206,968.86. Following the completion of the transaction, the director directly owned 10,002 shares in the company, valued at approximately $1,652,130.36. This represents a 78.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Herriot Tabuteau sold 31,261 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $170.38, for a total value of $5,326,249.18. Following the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,231,677.02. This represents a 81.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 420,903 shares of company stock valued at $63,552,838. Corporate insiders own 22.30% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc grew its holdings in shares of Axsome Therapeutics by 20,300.0% during the 3rd quarter. Versant Capital Management Inc now owns 204 shares of the company’s stock valued at $25,000 after purchasing an additional 203 shares during the last quarter. First Horizon Corp purchased a new stake in Axsome Therapeutics during the third quarter valued at about $34,000. Optiver Holding B.V. grew its stake in shares of Axsome Therapeutics by 82.3% during the third quarter. Optiver Holding B.V. now owns 288 shares of the company’s stock valued at $35,000 after buying an additional 130 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in shares of Axsome Therapeutics in the third quarter worth about $38,000. Finally, Advisory Services Network LLC purchased a new position in shares of Axsome Therapeutics in the third quarter worth about $40,000. 81.49% of the stock is currently owned by institutional investors.

About Axsome Therapeutics

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.