Axsome Therapeutics (NASDAQ:AXSM) Given “Buy” Rating at HC Wainwright

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports.

A number of other research analysts also recently issued reports on the company. Royal Bank of Canada boosted their price target on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Cantor Fitzgerald restated an “overweight” rating and set a $121.00 price target on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a research report on Monday. Finally, Robert W. Baird raised their target price on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.07.

Axsome Therapeutics Stock Performance

AXSM opened at $84.61 on Tuesday. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $105.00. The firm has a 50 day moving average of $92.95 and a two-hundred day moving average of $88.72. The firm has a market capitalization of $4.10 billion, a PE ratio of -12.96 and a beta of 1.18.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The business had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. During the same quarter last year, the business posted ($1.32) EPS. On average, analysts anticipate that Axsome Therapeutics will post -4.6 EPS for the current year.

Institutional Investors Weigh In On Axsome Therapeutics

Several large investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Axsome Therapeutics in the second quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Axsome Therapeutics in the 2nd quarter valued at $47,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Axsome Therapeutics by 22.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after purchasing an additional 318 shares during the last quarter. Moors & Cabot Inc. purchased a new position in Axsome Therapeutics in the 3rd quarter valued at $200,000. Finally, Whalen Wealth Management Inc. acquired a new stake in Axsome Therapeutics during the 3rd quarter worth $236,000. 81.49% of the stock is currently owned by hedge funds and other 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.