Axsome Therapeutics (NASDAQ:AXSM) Trading Down 4.9% – Here’s What Happened

Axsome Therapeutics, Inc. (NASDAQ:AXSM) fell 4.9% during mid-day trading on Tuesday . The stock traded as low as $126.28 and last traded at $122.87. 96,290 shares were traded during mid-day trading, a decline of 85% from the average session volume of 639,633 shares. The stock had previously closed at $129.17.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Royal Bank of Canada boosted their target price on Axsome Therapeutics from $143.00 to $192.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Morgan Stanley upped their target price on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Truist Financial lifted their price target on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Leerink Partners increased their price objective on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $200.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $167.36.

Axsome Therapeutics Trading Down 5.4 %

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 stock has a market capitalization of $5.96 billion, a PE ratio of -20.42 and a beta of 1.00. The business’s 50-day moving average is $117.35 and its two-hundred day moving average is $100.46.

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

Insiders Place Their Bets

In related 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 value of $393,210.00. Following the sale, the chief financial officer now directly owns 42,187 shares in the company, valued at $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 22.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Axsome Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Raiffeisen Bank International AG purchased a new position in Axsome Therapeutics in the fourth quarter valued at about $51,000. Assetmark Inc. acquired a new position in Axsome Therapeutics during the fourth quarter worth $52,000. R Squared Ltd purchased a new stake in Axsome Therapeutics during the fourth quarter worth $64,000. Aquatic Capital Management LLC purchased a new stake in Axsome Therapeutics during the fourth quarter worth $76,000. Finally, GF Fund Management CO. LTD. purchased a new stake in Axsome Therapeutics during the fourth quarter worth $86,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Axsome Therapeutics Company Profile

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.