Axsome Therapeutics (NASDAQ:AXSM) Shares Gap Down – Here’s Why

Axsome Therapeutics, Inc. (NASDAQ:AXSM)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $116.63, but opened at $112.43. Axsome Therapeutics shares last traded at $107.13, with a volume of 241,275 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Robert W. Baird lifted their target price on Axsome Therapeutics from $132.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Royal Bank of Canada upped their price target on Axsome Therapeutics from $143.00 to $192.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. HC Wainwright reiterated a “buy” rating and issued a $200.00 price objective on shares of Axsome Therapeutics in a report on Thursday, March 6th. Finally, Mizuho boosted their target price on Axsome Therapeutics from $212.00 to $216.00 and gave the stock an “outperform” rating in a research report on Thursday, March 27th. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $167.64.

Axsome Therapeutics Stock Down 4.9 %

The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The business has a 50-day moving average price of $120.16 and a 200-day moving average price of $101.40. The firm has a market cap of $5.41 billion, a P/E ratio of -18.46 and a beta of 1.00.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The business had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. On average, equities analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Insider Buying and Selling

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the 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 transaction, the chief financial officer now owns 42,187 shares in the company, valued at approximately $5,529,450.09. This represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Several large investors have recently added to or reduced their stakes in AXSM. BVF Inc. IL boosted its holdings in Axsome Therapeutics by 32.7% in the 4th quarter. BVF Inc. IL now owns 1,388,064 shares of the company’s stock valued at $117,444,000 after purchasing an additional 342,064 shares during the last quarter. FMR LLC raised its position in shares of Axsome Therapeutics by 20.6% during the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after buying an additional 185,951 shares during the period. Geode Capital Management LLC lifted its holdings in Axsome Therapeutics by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 912,538 shares of the company’s stock valued at $77,228,000 after acquiring an additional 4,079 shares during the last quarter. Wellington Management Group LLP grew its position in Axsome Therapeutics by 1.1% in the third quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock worth $66,750,000 after acquiring an additional 8,125 shares during the period. Finally, Invesco Ltd. increased its stake in Axsome Therapeutics by 10.8% during the fourth quarter. Invesco Ltd. now owns 692,464 shares of the company’s stock worth $58,589,000 after acquiring an additional 67,285 shares during the last quarter. 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.