Axsome Therapeutics, Inc. (NASDAQ:AXSM) Given Consensus Rating of “Buy” by Analysts

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have received an average recommendation of “Buy” from the thirteen analysts that are covering the firm, Marketbeat reports. Thirteen research analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $130.69.

A number of brokerages have recently weighed in on AXSM. Robert W. Baird lifted their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Royal Bank of Canada lifted their target price on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Truist Financial boosted their target price on Axsome Therapeutics from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $133.00 price target on shares of Axsome Therapeutics in a research report on Monday, January 13th. Finally, Mizuho decreased their price objective on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating for the company in a research report on Tuesday, December 31st.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM opened at $91.93 on Wednesday. The business has a fifty day moving average of $92.27 and a 200-day moving average of $89.53. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. Axsome Therapeutics has a twelve month low of $64.11 and a twelve month high of $105.00. The firm has a market cap of $4.45 billion, a PE ratio of -14.08 and a beta of 1.04.

Axsome Therapeutics (NASDAQ:AXSM) last posted 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. 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 for the quarter, compared to analysts’ expectations of $98.71 million. During the same quarter last year, the business earned ($1.32) earnings per share. On average, equities research analysts predict that Axsome Therapeutics will post -4.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Sofinnova Investments Inc. bought a new position in Axsome Therapeutics in the 2nd quarter valued at approximately $24,971,000. Iron Triangle Partners LP bought a new stake in shares of Axsome Therapeutics during the 3rd quarter valued at $22,671,000. Tri Locum Partners LP boosted its holdings in Axsome Therapeutics by 198.4% in the 2nd quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock valued at $24,674,000 after purchasing an additional 203,802 shares during the period. FMR LLC grew its position in Axsome Therapeutics by 20.6% during the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after buying an additional 185,951 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Axsome Therapeutics by 47.5% in the third quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock worth $13,713,000 after purchasing an additional 51,696 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.