Axsome Therapeutics (NASDAQ:AXSM) Trading Down 4.9% – Should You Sell?

Axsome Therapeutics, Inc. (NASDAQ:AXSM)’s share price dropped 4.9% during trading on Tuesday . The stock traded as low as $126.28 and last traded at $122.87. Approximately 96,290 shares were traded during trading, a decline of 85% from the average daily volume of 639,633 shares. The stock had previously closed at $129.17.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $153.00 target price on shares of Axsome Therapeutics in a report on Monday, March 3rd. Truist Financial upped their target price 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. Royal Bank of Canada lifted their price target on Axsome Therapeutics from $143.00 to $192.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $153.00 price objective on shares of Axsome Therapeutics in a research report on Wednesday, February 19th. Finally, Morgan Stanley lifted their target price on Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.36.

Axsome Therapeutics Trading Down 1.0 %

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 firm has a fifty day moving average price of $118.58 and a 200 day moving average price of $100.78. The company has a market cap of $5.81 billion, a price-to-earnings ratio of -19.89 and a beta of 1.00.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. As a group, equities analysts predict that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the business’s 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 directly owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 111 Capital bought a new position in shares of Axsome Therapeutics in the fourth quarter valued at about $278,000. TFG Asset Management GP Ltd acquired a new position in Axsome Therapeutics in the 4th quarter valued at about $3,490,000. GF Fund Management CO. LTD. bought a new position in Axsome Therapeutics in the 4th quarter valued at about $86,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new stake in Axsome Therapeutics during the fourth quarter worth approximately $2,853,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Axsome Therapeutics by 20.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,642 shares of the company’s stock worth $4,877,000 after acquiring an additional 9,928 shares during the period. 81.49% of the stock is owned by 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.