Axsome Therapeutics (NASDAQ:AXSM – Get Free Report) had its price objective lifted by TD Cowen from $275.00 to $300.00 in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective would suggest a potential upside of 18.97% from the stock’s current price.
A number of other research analysts have also weighed in on the company. Robert W. Baird increased their price target on Axsome Therapeutics from $241.00 to $246.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Mizuho lifted their price objective on Axsome Therapeutics from $228.00 to $310.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Truist Financial upgraded Axsome Therapeutics to a “strong-buy” rating in a research note on Monday. Morgan Stanley upgraded Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a research report on Thursday, June 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $258.95.
Check Out Our Latest Stock Analysis on AXSM
Axsome Therapeutics Trading Up 0.1%
Axsome Therapeutics (NASDAQ:AXSM – Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.41). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The firm had revenue of $191.20 million for the quarter, compared to analysts’ expectations of $191.10 million. Axsome Therapeutics’s revenue for the quarter was up 57.4% compared to the same quarter last year. Equities research analysts expect that Axsome Therapeutics will post -2.27 earnings per share for the current fiscal year.
Insider Buying and Selling at Axsome Therapeutics
In related news, Director Mark Coleman sold 6,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $230.30, for a total transaction of $1,381,800.00. Following the completion of the sale, the director directly owned 35,140 shares of the company’s stock, valued at approximately $8,092,742. This represents a 14.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Nick Pizzie sold 33,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total value of $7,922,970.00. Following the completion of the sale, the chief financial officer owned 42,867 shares of the company’s stock, valued at approximately $10,291,938.03. This represents a 43.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 113,686 shares of company stock worth $26,666,006. Corporate insiders own 20.60% of the company’s stock.
Institutional Investors Weigh In On Axsome Therapeutics
Several hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Axsome Therapeutics by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,923 shares of the company’s stock worth $2,557,000 after acquiring an additional 1,002 shares during the period. Jones Financial Companies Lllp grew its position in Axsome Therapeutics by 2,407.9% in the first quarter. Jones Financial Companies Lllp now owns 7,624 shares of the company’s stock valued at $889,000 after acquiring an additional 7,320 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Axsome Therapeutics by 38.7% during the first quarter. Goldman Sachs Group Inc. now owns 301,718 shares of the company’s stock valued at $35,189,000 after purchasing an additional 84,151 shares during the period. Caxton Associates LLP purchased a new stake in shares of Axsome Therapeutics during the first quarter valued at approximately $307,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Axsome Therapeutics by 29.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,892 shares of the company’s stock worth $8,735,000 after purchasing an additional 17,250 shares in the last quarter. 81.49% of the stock is currently owned by hedge funds and other 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.
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