William Blair Reiterates Outperform Rating for Axsome Therapeutics (NASDAQ:AXSM)

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “outperform” rating restated by investment analysts at William Blair in a report issued on Tuesday,RTT News reports.

Several other equities research analysts have also issued reports on AXSM. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Bank of America lifted their price objective on Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Wells Fargo & Company raised their price target on Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. HC Wainwright restated a “buy” rating and set a $190.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, February 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $133.00 price target on shares of Axsome Therapeutics in a research report on Monday, February 10th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $147.13.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock traded down $5.44 during trading hours on Tuesday, reaching $125.71. The company had a trading volume of 191,092 shares, compared to its average volume of 1,063,855. Axsome Therapeutics has a one year low of $64.11 and a one year high of $134.18. The business has a fifty day simple moving average of $98.47 and a 200 day simple moving average of $93.68. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. The firm has a market cap of $6.09 billion, a PE ratio of -19.25 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. On average, analysts anticipate that Axsome Therapeutics will post -4.7 earnings per share for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the sale, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 22.40% of the stock is owned by company insiders.

Institutional Trading of Axsome Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Raiffeisen Bank International AG purchased a new position in Axsome Therapeutics in the 4th quarter worth approximately $51,000. Assetmark Inc. purchased a new stake in shares of Axsome Therapeutics in the 4th quarter worth $52,000. R Squared Ltd purchased a new stake in shares of Axsome Therapeutics in the 4th quarter worth $64,000. Aquatic Capital Management LLC purchased a new stake in shares of Axsome Therapeutics in the 4th quarter worth $76,000. Finally, KBC Group NV increased its stake in shares of Axsome Therapeutics by 40.5% in the 4th quarter. KBC Group NV now owns 1,336 shares of the company’s stock worth $113,000 after purchasing an additional 385 shares in the last quarter. 81.49% of the stock is owned by 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.