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

Axsome Therapeutics, Inc. (NASDAQ:AXSM) saw a significant decline in short interest in November. As of November 30th, there was short interest totalling 7,080,000 shares, a decline 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 currently 15.4 days.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AXSM shares. 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. Royal Bank of Canada lifted their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, November 12th. Finally, Robert W. Baird lifted their price objective on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $125.93.

Axsome Therapeutics Stock Up 4.0 %

Shares of AXSM stock traded up $3.55 during mid-day trading on Tuesday, hitting $93.23. The company’s stock had a trading volume of 33,518 shares, compared to its average volume of 608,318. Axsome Therapeutics has a 52-week low of $64.11 and a 52-week high of $105.00. The business has a 50-day moving average price of $93.02 and a 200 day moving average price of $87.47. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The stock has a market cap of $4.52 billion, a price-to-earnings ratio of -13.73 and a beta of 1.18.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping the consensus estimate 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 company had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. During the same quarter in the previous year, the company posted ($1.32) earnings per share. Research analysts predict that Axsome Therapeutics will post -4.6 EPS for the current fiscal year.

Institutional Trading of Axsome Therapeutics

Large investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Axsome Therapeutics in the second quarter worth $27,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Axsome Therapeutics in the second quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Axsome Therapeutics by 22.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after acquiring an additional 318 shares during the period. Moors & Cabot Inc. bought a new stake in shares of Axsome Therapeutics in the third quarter worth $200,000. Finally, Whalen Wealth Management Inc. bought a new stake in Axsome Therapeutics during the third quarter valued at about $236,000. Institutional investors own 81.49% of the company’s stock.

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.