Here is some recent news about AXSM:
- Investment by Sofinnova: Sofinnova Investments Inc. purchased shares of Axsome Therapeutics during the second quarter, buying 310,198 shares valued at approximately $24,971,000. This new stake positions Sofinnova as the 20th biggest holder of AXSM, with Axsome Therapeutics accounting for about 1.3% of Sofinnova's portfolio1.
- Broker Ratings and Price Targets:
- Cantor Fitzgerald reaffirmed an "overweight" rating on AXSM with a price target of $107.002.
- UBS Group reduced their price target from $107.00 to $105.00 and maintained a "buy" rating2.
- Mizuho reiterated a "buy" rating and set a price target of $106.003.
- Wells Fargo & Company initiated coverage with an "overweight" rating and a price target of $140.003.
- Needham & Company LLC maintained a "buy" rating and set a price target of $130.003.
- StockNews.com downgraded AXSM from a "hold" to a "sell" rating23.
- Analyst Consensus: The average 12-month price target among brokers is $124.57, with a consensus recommendation of "Buy" from the 14 ratings firms covering the company34.
- Director Sale: Director Mark E. Saad sold 11,016 shares at an average price of $91.31, totaling $1,005,870.96. Following the sale, the director owns 10,002 shares5.
- Financial Performance: Axsome Therapeutics reported an EPS of ($1.24) for the quarter, surpassing the consensus estimate of ($1.30) by $0.06, and had a negative net margin of 105.85% and a negative return on equity of 117.46%. The company's revenue for the quarter was $87.17 million, exceeding the consensus estimate of $84.53 million5.
These news items highlight the recent investment in Axsome Therapeutics by Sofinnova, the reiteration of "overweight" ratings and price targets by various brokers, the downgrade by StockNews.com, the sale of shares by a director, and the company's financial performance.
9/21/2024 05:40pm
