Analysts Set Axsome Therapeutics, Inc. (NASDAQ:AXSM) PT at $123.38

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has been assigned an average recommendation of “Buy” from the thirteen research firms that are covering the stock, MarketBeat reports. Thirteen research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $123.38.

A number of research analysts have recently issued reports on AXSM shares. HC Wainwright reiterated a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a research note on Thursday. Robert W. Baird boosted their target price on Axsome Therapeutics from $108.00 to $112.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. StockNews.com cut Axsome Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Royal Bank of Canada decreased their price target on Axsome Therapeutics from $131.00 to $130.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. Finally, UBS Group cut their price objective on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $87.99 on Friday. Axsome Therapeutics has a 1 year low of $55.02 and a 1 year high of $98.40. The stock has a market capitalization of $4.18 billion, a P/E ratio of -13.79 and a beta of 1.26. The company has a debt-to-equity ratio of 1.25, a quick ratio of 3.09 and a current ratio of 3.20. The company’s fifty day moving average is $83.11 and its two-hundred day moving average is $78.96.

Insider Buying and Selling

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 47,739 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the transaction, the chief operating officer now directly owns 5,783 shares in the company, valued at approximately $487,275.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Mark L. Jacobson sold 47,739 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.26, for a total value of $4,022,488.14. Following the sale, the chief operating officer now directly owns 5,783 shares in the company, valued at $487,275.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mark L. Jacobson sold 7,910 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total transaction of $587,792.10. Following the transaction, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at $429,734.73. The disclosure for this sale can be found here. Insiders have sold 60,898 shares of company stock worth $5,005,058 in the last three months. Corporate insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Quarry LP boosted its stake in shares of Axsome Therapeutics by 77.8% during the second quarter. Quarry LP now owns 3,200 shares of the company’s stock valued at $258,000 after acquiring an additional 1,400 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in Axsome Therapeutics in the 2nd quarter valued at about $27,000. Creative Planning boosted its stake in shares of Axsome Therapeutics by 15.9% during the 2nd quarter. Creative Planning now owns 8,365 shares of the company’s stock worth $673,000 after purchasing an additional 1,149 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Axsome Therapeutics during the second quarter worth about $250,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Axsome Therapeutics by 4.6% in the second quarter. The Manufacturers Life Insurance Company now owns 22,901 shares of the company’s stock valued at $1,844,000 after buying an additional 999 shares during the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

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.