Cantor Fitzgerald Reaffirms Overweight Rating for Axsome Therapeutics (NASDAQ:AXSM)

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “overweight” rating reissued by equities research analysts at Cantor Fitzgerald in a report released on Wednesday,Benzinga reports. They currently have a $153.00 price objective on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 20.08% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company boosted their price objective on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Robert W. Baird boosted their price objective on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Needham & Company LLC lifted their price target on shares of Axsome Therapeutics from $133.00 to $153.00 and gave the company a “buy” rating in a research note on Wednesday. Leerink Partners boosted their price objective on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Finally, Bank of America boosted their price objective on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $154.13.

Axsome Therapeutics Price Performance

Shares of Axsome Therapeutics stock traded down $0.68 during midday trading on Wednesday, reaching $127.42. The company had a trading volume of 134,539 shares, compared to its average volume of 1,078,651. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of -19.51 and a beta of 1.05. The stock has a fifty day simple moving average of $98.47 and a 200 day simple moving average of $93.68. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $134.18.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The firm had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. As a group, equities research analysts forecast that Axsome Therapeutics will post -4.59 earnings per share for the current year.

Insider Buying and Selling at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the transaction, the chief financial officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Several large investors have recently modified their holdings of the business. Pitcairn Co. raised its stake in shares of Axsome Therapeutics by 3.4% during the fourth quarter. Pitcairn Co. now owns 4,562 shares of the company’s stock valued at $386,000 after acquiring an additional 148 shares during the last quarter. Meridian Wealth Management LLC raised its stake in Axsome Therapeutics by 0.7% during the fourth quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company’s stock worth $1,791,000 after buying an additional 150 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in Axsome Therapeutics by 4.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company’s stock worth $326,000 after buying an additional 162 shares during the last quarter. Arizona State Retirement System increased its stake in Axsome Therapeutics by 1.8% in the fourth quarter. Arizona State Retirement System now owns 9,054 shares of the company’s stock valued at $766,000 after purchasing an additional 164 shares in the last quarter. Finally, Intrust Bank NA increased its stake in Axsome Therapeutics by 6.9% in the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company’s stock valued at $239,000 after purchasing an additional 183 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

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.