Axsome Therapeutics (NASDAQ:AXSM) Earns Buy Rating from HC Wainwright

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $180.00 price target on the stock. HC Wainwright’s target price would indicate a potential upside of 95.80% from the stock’s current price.

Several other research firms have also weighed in on AXSM. Truist Financial increased their price objective on shares of Axsome Therapeutics from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Royal Bank of Canada increased their price target on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Cantor Fitzgerald restated an “overweight” rating and set a $121.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Mizuho cut their target price on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 31st. Finally, Robert W. Baird boosted their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.69.

Axsome Therapeutics Stock Performance

AXSM stock opened at $91.93 on Tuesday. The stock’s 50 day simple moving average is $92.29 and its 200 day simple moving average is $89.61. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $105.00. The firm has a market cap of $4.45 billion, a P/E ratio of -14.08 and a beta of 1.04. 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 (NASDAQ:AXSM) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The firm 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 firm earned ($1.32) earnings per share. As a group, equities research analysts predict that Axsome Therapeutics will post -4.7 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its position 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 worth $156,000 after buying an additional 318 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Axsome Therapeutics in the second quarter worth $27,000. WCM Investment Management LLC raised its holdings in shares of Axsome Therapeutics by 0.3% during the third quarter. WCM Investment Management LLC now owns 113,692 shares of the company’s stock worth $10,191,000 after acquiring an additional 347 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Axsome Therapeutics by 0.3% during the 3rd quarter. US Bancorp DE now owns 133,126 shares of the company’s stock valued at $11,964,000 after buying an additional 421 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Axsome Therapeutics in the 2nd quarter valued at approximately $47,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

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.