Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives Consensus Recommendation of “Buy” from Brokerages

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has earned an average recommendation of “Buy” from the fourteen analysts that are covering the firm, Marketbeat Ratings reports. Fourteen analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $125.93.

AXSM has been the subject of a number of research analyst reports. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Robert W. Baird boosted their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $121.00 price target on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Wells Fargo & Company began coverage on shares of Axsome Therapeutics in a report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $180.00 target price on shares of Axsome Therapeutics in a research note on Monday, November 25th.

Hedge Funds Weigh In On Axsome Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. PDT Partners LLC purchased a new position in Axsome Therapeutics during the 3rd quarter valued at $1,052,000. Captrust Financial Advisors purchased a new position in shares of Axsome Therapeutics during the third quarter valued at about $514,000. BNP Paribas Financial Markets raised its stake in Axsome Therapeutics by 71.7% in the third quarter. BNP Paribas Financial Markets now owns 13,733 shares of the company’s stock worth $1,234,000 after buying an additional 5,737 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in Axsome Therapeutics in the third quarter worth about $986,000. Finally, XTX Topco Ltd boosted its position in Axsome Therapeutics by 177.9% during the 2nd quarter. XTX Topco Ltd now owns 11,205 shares of the company’s stock valued at $902,000 after acquiring an additional 7,173 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Stock Down 1.4 %

Shares of AXSM opened at $86.70 on Friday. The firm has a 50 day simple moving average of $93.52 and a two-hundred day simple moving average of $88.24. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. Axsome Therapeutics has a one year low of $64.11 and a one year high of $105.00. The company has a market cap of $4.20 billion, a P/E ratio of -13.28 and a beta of 1.18.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.38) by $0.04. The firm had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same period in the prior year, the company posted ($1.32) EPS. Research analysts forecast that Axsome Therapeutics will post -4.6 EPS for the current fiscal year.

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.