Axsome Therapeutics (NASDAQ:AXSM) Upgraded by Cantor Fitzgerald to Strong-Buy Rating

Axsome Therapeutics (NASDAQ:AXSM) was upgraded by Cantor Fitzgerald to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company restated an “overweight” rating and set a $165.00 target price (up previously from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. Leerink Partners increased their price objective on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Jefferies Financial Group assumed coverage on Axsome Therapeutics in a report on Monday, April 7th. They issued a “buy” rating and a $200.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Axsome Therapeutics in a report on Tuesday, February 11th. They issued a “buy” rating and a $176.00 price objective for the company. Finally, William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Axsome Therapeutics currently has a consensus rating of “Buy” and an average price target of $172.14.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $103.67 on Wednesday. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. The company has a market capitalization of $5.10 billion, a P/E ratio of -17.31 and a beta of 0.46. The stock has a 50 day moving average price of $110.96 and a two-hundred day moving average price of $104.84. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. The company had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. Analysts expect that Axsome Therapeutics will post -2.79 earnings per share for the current year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the transaction, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. This trade represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 22.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Strategic Financial Concepts LLC purchased a new position in Axsome Therapeutics in the fourth quarter worth about $2,599,000. Intech Investment Management LLC boosted its position in Axsome Therapeutics by 46.5% in the fourth quarter. Intech Investment Management LLC now owns 16,028 shares of the company’s stock worth $1,356,000 after purchasing an additional 5,087 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Axsome Therapeutics in the fourth quarter worth about $14,771,000. Charles Schwab Investment Management Inc. boosted its position in Axsome Therapeutics by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company’s stock worth $27,755,000 after purchasing an additional 5,438 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new position in shares of Axsome Therapeutics during the 4th quarter valued at about $395,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

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.