Axsome Therapeutics (NASDAQ:AXSM – Get Free Report)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $290.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 16.11% from the stock’s previous close.
Several other research firms also recently weighed in on AXSM. Cantor Fitzgerald reiterated an “overweight” rating and set a $272.00 target price on shares of Axsome Therapeutics in a research report on Monday, May 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Monday, April 20th. Deutsche Bank Aktiengesellschaft set a $280.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, May 5th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 target price on shares of Axsome Therapeutics in a report on Thursday, June 11th. Finally, TD Cowen upped their price target on shares of Axsome Therapeutics from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $259.05.
Get Our Latest Research Report on Axsome Therapeutics
Axsome Therapeutics Stock Up 3.0%
Axsome Therapeutics (NASDAQ:AXSM – Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). The business had revenue of $191.20 million for the quarter, compared to analysts’ expectations of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.Axsome Therapeutics’s revenue was up 57.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Axsome Therapeutics will post -2.31 earnings per share for the current year.
Insider Buying and Selling
In other news, CEO Herriot Tabuteau sold 49,666 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $240.25, for a total value of $11,932,256.50. Following the transaction, the chief executive officer owned 7,229 shares of the company’s stock, valued at approximately $1,736,767.25. This trade represents a 87.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark Coleman sold 643 shares of Axsome Therapeutics stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $249.00, for a total transaction of $160,107.00. Following the transaction, the director owned 30,389 shares in the company, valued at $7,566,861. The trade was a 2.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 163,352 shares of company stock valued at $38,598,262. 20.60% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Axsome Therapeutics
A number of large investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in Axsome Therapeutics by 14.9% in the 2nd quarter. GAMMA Investing LLC now owns 347 shares of the company’s stock worth $85,000 after acquiring an additional 45 shares during the period. Harbor Investment Advisory LLC acquired a new position in shares of Axsome Therapeutics during the second quarter worth $105,000. Seven Fleet Capital Management LP lifted its position in shares of Axsome Therapeutics by 8.5% during the first quarter. Seven Fleet Capital Management LP now owns 14,055 shares of the company’s stock worth $2,376,000 after purchasing an additional 1,100 shares in the last quarter. Perceptive Advisors LLC lifted its position in shares of Axsome Therapeutics by 0.7% during the first quarter. Perceptive Advisors LLC now owns 149,950 shares of the company’s stock worth $25,345,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Axsome Therapeutics by 26.1% in the first quarter. Janus Henderson Group PLC now owns 19,052 shares of the company’s stock valued at $3,219,000 after purchasing an additional 3,948 shares during the period. Institutional investors and hedge funds own 81.49% of the company’s stock.
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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