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

Axsome Therapeutics, Inc. (NASDAQ:AXSM) gapped down before the market opened on Tuesday . The stock had previously closed at $131.15, but opened at $124.66. Axsome Therapeutics shares last traded at $125.71, with a volume of 191,092 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AXSM. Cantor Fitzgerald reissued an “overweight” rating and issued a $153.00 target price on shares of Axsome Therapeutics in a report on Wednesday. William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a research report on Tuesday. Truist Financial lifted their price objective on Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday. Bank of America boosted their target price on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Robert W. Baird increased their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and an average price target of $155.47.

Axsome Therapeutics Stock Up 1.7 %

The firm’s 50-day simple moving average is $99.64 and its two-hundred day simple moving average is $94.22. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of -21.56 and a beta of 1.05. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 195.76%. The business had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. On average, sell-side analysts expect that Axsome Therapeutics, Inc. will post -2.26 EPS for the current fiscal year.

Insider Activity

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 transaction of $393,210.00. Following the transaction, the chief financial officer now directly 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 SEC, which is accessible through this hyperlink. Insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Raiffeisen Bank International AG bought a new position in Axsome Therapeutics in the fourth quarter valued at approximately $51,000. Assetmark Inc. acquired a new position in shares of Axsome Therapeutics in the 4th quarter valued at $52,000. R Squared Ltd bought a new position in shares of Axsome Therapeutics in the 4th quarter worth $64,000. Aquatic Capital Management LLC bought a new position in shares of Axsome Therapeutics in the 4th quarter worth $76,000. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Axsome Therapeutics during the fourth quarter worth $86,000. 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.