Axsome Therapeutics (NASDAQ:AXSM) Now Covered by Jefferies Financial Group

Analysts at Jefferies Financial Group assumed coverage on shares of Axsome Therapeutics (NASDAQ:AXSM) in a report released on Monday,Benzinga reports. The brokerage set a “buy” rating and a $200.00 price target on the stock. Jefferies Financial Group’s target price suggests a potential upside of 102.31% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $153.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, April 1st. Bank of America raised 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. Deutsche Bank Aktiengesellschaft initiated coverage on Axsome Therapeutics in a research report on Tuesday, February 11th. They issued a “buy” rating and a $176.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $153.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, February 19th. Finally, Mizuho upped their price target on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an “outperform” rating in a report on Thursday, March 27th. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $169.80.

Axsome Therapeutics Trading Down 8.4 %

Shares of AXSM opened at $98.86 on Monday. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $139.13. The stock’s 50-day moving average is $120.62 and its two-hundred day moving average is $101.82. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. The stock has a market cap of $4.82 billion, a PE ratio of -16.50 and a beta of 0.88.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. The firm had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. Equities analysts forecast that Axsome Therapeutics will post -2.79 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 the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 22.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Boxer Capital Management LLC acquired a new stake in Axsome Therapeutics in the 4th quarter valued at approximately $39,767,000. Lazard Asset Management LLC grew its stake in shares of Axsome Therapeutics by 525.7% in the fourth quarter. Lazard Asset Management LLC now owns 537,669 shares of the company’s stock worth $45,492,000 after purchasing an additional 451,737 shares in the last quarter. Norges Bank acquired a new position in shares of Axsome Therapeutics during the fourth quarter valued at $34,100,000. BVF Inc. IL raised its stake in shares of Axsome Therapeutics by 32.7% during the fourth 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 in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Axsome Therapeutics by 6,002.7% during the fourth quarter. Principal Financial Group Inc. now owns 207,065 shares of the company’s stock valued at $17,520,000 after purchasing an additional 203,672 shares in the last quarter. 81.49% of the stock is currently 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.