Axsome Therapeutics (NASDAQ:AXSM) Reaches New 1-Year High – Time to Buy?

Axsome Therapeutics, Inc. (NASDAQ:AXSM) reached a new 52-week high during trading on Friday . The company traded as high as $105.00 and last traded at $103.85, with a volume of 466231 shares. The stock had previously closed at $103.89.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AXSM shares. Truist Financial lifted their price objective on shares of Axsome Therapeutics from $150.00 to $180.00 and gave the company a “buy” rating in a report on Monday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $133.00 target price on shares of Axsome Therapeutics in a research report on Monday, January 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $121.00 price target on shares of Axsome Therapeutics in a report on Thursday, December 12th. Mizuho reduced their price objective on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a report on Tuesday, December 31st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $180.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, January 21st. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $130.69.

Axsome Therapeutics Stock Down 0.8 %

The business has a 50 day moving average of $92.64 and a two-hundred day moving average of $90.09. The stock has a market capitalization of $5.00 billion, a PE ratio of -15.79 and a beta of 1.04. 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 (NASDAQ:AXSM) last announced its earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. During the same period in the previous year, the company posted ($1.32) earnings per share. Analysts predict that Axsome Therapeutics, Inc. will post -4.73 EPS for the current year.

Institutional Investors Weigh In On Axsome Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in 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 purchasing an additional 318 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Axsome Therapeutics in the 2nd quarter worth $27,000. WCM Investment Management LLC grew its stake in Axsome Therapeutics by 0.3% during the 3rd quarter. WCM Investment Management LLC now owns 113,692 shares of the company’s stock worth $10,191,000 after buying an additional 347 shares during the last quarter. KBC Group NV increased its position in Axsome Therapeutics by 40.5% during the 4th quarter. KBC Group NV now owns 1,336 shares of the company’s stock valued at $113,000 after buying an additional 385 shares in the last quarter. Finally, US Bancorp DE increased its position in 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 in the last quarter. Hedge funds and other 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.