Axsome Therapeutics, Inc. (NASDAQ:AXSM) Short Interest Update

Axsome Therapeutics, Inc. (NASDAQ:AXSM) was the target of a large decrease in short interest in November. As of November 30th, there was short interest totalling 7,080,000 shares, a decrease of 7.9% from the November 15th total of 7,690,000 shares. Based on an average daily volume of 459,900 shares, the days-to-cover ratio is presently 15.4 days.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AXSM shares. Robert W. Baird lifted their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $121.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Royal Bank of Canada raised their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company assumed coverage on shares of Axsome Therapeutics in a report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research note on Monday, November 25th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $125.93.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM opened at $93.51 on Wednesday. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $105.00. The company’s 50 day moving average price is $93.14 and its two-hundred day moving average price is $87.58. The firm has a market cap of $4.53 billion, a PE ratio of -14.21 and a beta of 1.18. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97.

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

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.