Axsome Therapeutics (NASDAQ:AXSM) Trading 5.3% Higher After Analyst Upgrade

Axsome Therapeutics, Inc. (NASDAQ:AXSM)’s share price traded up 5.3% during mid-day trading on Monday after Truist Financial raised their price target on the stock from $150.00 to $180.00. Truist Financial currently has a buy rating on the stock. Axsome Therapeutics traded as high as $84.36 and last traded at $84.29. 175,798 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 772,864 shares. The stock had previously closed at $80.05.

AXSM has been the topic of a number of other reports. Robert W. Baird raised their target price on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Mizuho cut their price target on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a report on Tuesday, December 31st. Royal Bank of Canada upped their price objective on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Needham & Company LLC reiterated a “buy” rating and set a $133.00 price objective on shares of Axsome Therapeutics in a research note on Monday, January 6th. Finally, StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $129.43.

Institutional Trading of Axsome Therapeutics

A number of hedge funds have recently made changes to their positions in AXSM. Northwestern Mutual Wealth Management Co. purchased a new stake in Axsome Therapeutics in the 2nd quarter worth approximately $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Axsome Therapeutics during the second quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. grew its stake 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 valued at $156,000 after purchasing an additional 318 shares in the last quarter. Moors & Cabot Inc. purchased a new position in Axsome Therapeutics in the third quarter valued at about $200,000. Finally, Whalen Wealth Management Inc. acquired a new position in Axsome Therapeutics in the 3rd quarter worth about $236,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Trading Up 7.8 %

The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of -13.21 and a beta of 1.04. The company has a fifty day moving average price of $92.17 and a 200-day moving average price of $89.16. 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 posted its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. During the same period in the previous year, the company earned ($1.32) earnings per share. On average, equities research analysts predict that Axsome Therapeutics, Inc. will post -4.6 EPS for the current year.

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.