Axsome Therapeutics’ (AXSM) Buy Rating Reaffirmed at HC Wainwright

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued to investors on Wednesday, TipRanks reports. They currently have a $180.00 price target on the stock.

AXSM has been the topic of a number of other research reports. BTIG Research dropped their price objective on Axsome Therapeutics from $123.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, August 10th. Morgan Stanley lowered Axsome Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $105.00 to $34.00 in a report on Tuesday, August 10th. Truist Securities dropped their price objective on Axsome Therapeutics from $200.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, August 10th. Mizuho reaffirmed a “buy” rating and set a $55.00 price objective on shares of Axsome Therapeutics in a report on Monday, August 23rd. Finally, Truist decreased their target price on Axsome Therapeutics from $200.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, August 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $99.67.

Shares of AXSM traded up $1.71 during midday trading on Wednesday, hitting $27.88. The company had a trading volume of 11,210 shares, compared to its average volume of 648,992. The company’s 50-day simple moving average is $38.85 and its 200-day simple moving average is $53.31. The company has a debt-to-equity ratio of 0.68, a quick ratio of 6.20 and a current ratio of 6.20. The firm has a market capitalization of $1.05 billion, a P/E ratio of -9.15 and a beta of 2.41. Axsome Therapeutics has a 1 year low of $19.38 and a 1 year high of $87.24.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Sunday, August 8th. The company reported ($0.86) EPS for the quarter, topping the consensus estimate of ($0.88) by $0.02. Equities analysts predict that Axsome Therapeutics will post -3.62 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC increased its stake in Axsome Therapeutics by 13.2% during the second quarter. Parametric Portfolio Associates LLC now owns 14,257 shares of the company’s stock worth $962,000 after acquiring an additional 1,663 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Axsome Therapeutics during the second quarter worth about $245,000. Morgan Stanley increased its stake in Axsome Therapeutics by 122.8% during the second quarter. Morgan Stanley now owns 317,446 shares of the company’s stock worth $21,414,000 after acquiring an additional 174,980 shares during the last quarter. Perceptive Advisors LLC acquired a new stake in Axsome Therapeutics during the second quarter worth about $37,367,000. Finally, Invesco Ltd. increased its stake in Axsome Therapeutics by 24.4% during the second quarter. Invesco Ltd. now owns 164,383 shares of the company’s stock worth $11,089,000 after acquiring an additional 32,250 shares during the last quarter. Hedge funds and other institutional investors own 59.00% of the company’s stock.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc engages in the development of novel therapies for the management of central nervous system disorders. Its product candidates include AXS-05, AXS-07, AXS-12, and AXS-14 which are being developed for multiple pain and primary care indications. The company was founded by Herriot Tabuteau on January 12, 2012 and is headquartered in New York, NY.

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Analyst Recommendations for Axsome Therapeutics (NASDAQ:AXSM)

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