Axsome Therapeutics (NASDAQ:AXSM – Get Free Report) was upgraded by investment analysts at BMO Capital Markets to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.
AXSM has been the subject of a number of other research reports. TD Cowen boosted their price objective on Axsome Therapeutics from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Royal Bank Of Canada increased their price objective on shares of Axsome Therapeutics from $302.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Guggenheim lifted their target price on Axsome Therapeutics from $245.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Truist Financial upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a research note on Monday, June 15th. Finally, Needham & Company LLC lifted their price target on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $261.48.
Read Our Latest Report on Axsome Therapeutics
Axsome Therapeutics Trading Up 6.9%
Axsome Therapeutics (NASDAQ:AXSM – Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The business had revenue of $191.20 million for the quarter, compared to analyst estimates of $191.10 million. The business’s revenue for the quarter was up 57.4% on a year-over-year basis. On average, sell-side analysts anticipate that Axsome Therapeutics will post -2.45 earnings per share for the current year.
Insider Buying and Selling at Axsome Therapeutics
In other news, CEO Herriot Tabuteau sold 49,670 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $241.01, for a total transaction of $11,970,966.70. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at $1,742,261.29. This trade represents a 87.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Nick Pizzie sold 33,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the sale, the chief financial officer directly owned 42,867 shares in the company, valued at $10,291,938.03. This trade represents a 43.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 155,852 shares of company stock worth $37,230,112 over the last 90 days. Company insiders own 20.60% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in AXSM. Wellington Management Group LLP boosted its position in shares of Axsome Therapeutics by 84.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after purchasing an additional 609,516 shares in the last quarter. First Trust Advisors LP lifted its stake in Axsome Therapeutics by 1,230.2% in the first quarter. First Trust Advisors LP now owns 577,479 shares of the company’s stock valued at $97,606,000 after buying an additional 534,066 shares during the period. Norges Bank acquired a new position in Axsome Therapeutics in the fourth quarter valued at approximately $90,490,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Axsome Therapeutics by 45.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock worth $275,763,000 after buying an additional 472,422 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Axsome Therapeutics by 73.3% during the 3rd quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock worth $120,303,000 after buying an additional 419,008 shares in the last quarter. 81.49% of the stock is 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.
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