Axsome Therapeutics (NASDAQ:AXSM) Reaches New 12-Month High After Analyst Upgrade

Axsome Therapeutics, Inc. (NASDAQ:AXSMGet Free Report) shares hit a new 52-week high on Tuesday after Leerink Partners raised their price target on the stock from $110.00 to $150.00. Leerink Partners currently has an outperform rating on the stock. Axsome Therapeutics traded as high as $132.25 and last traded at $127.08, with a volume of 4404595 shares. The stock had previously closed at $105.76.

Several other equities analysts have also recently weighed in on AXSM. Truist Financial raised their target price on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Robert W. Baird raised their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. HC Wainwright raised their target price on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, January 31st. William Blair reissued an “outperform” rating on shares of Axsome Therapeutics in a research note on Friday, January 24th. Finally, Mizuho raised their target price on shares of Axsome Therapeutics from $122.00 to $137.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Axsome Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $135.14.

View Our Latest Stock Analysis on Axsome Therapeutics

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Cibc World Markets Corp acquired a new stake in Axsome Therapeutics during the 4th quarter valued at $291,000. Corient Private Wealth LLC acquired a new stake in shares of Axsome Therapeutics during the fourth quarter worth $239,000. Royce & Associates LP lifted its holdings in shares of Axsome Therapeutics by 64.4% during the fourth quarter. Royce & Associates LP now owns 37,000 shares of the company’s stock worth $3,131,000 after buying an additional 14,500 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Axsome Therapeutics by 1.5% during the fourth quarter. Swiss National Bank now owns 61,400 shares of the company’s stock worth $5,195,000 after buying an additional 900 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Axsome Therapeutics during the fourth quarter worth $6,219,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Stock Up 20.2 %

The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The company has a market cap of $6.16 billion, a price-to-earnings ratio of -19.46 and a beta of 1.05. The stock has a fifty day moving average price of $94.72 and a two-hundred day moving average price of $91.78.

Axsome Therapeutics (NASDAQ:AXSMGet Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $98.71 million. During the same quarter last year, the firm earned ($1.32) earnings per share. As a group, sell-side analysts expect that Axsome Therapeutics, Inc. will post -4.7 EPS for the current year.

About Axsome Therapeutics

(Get Free Report)

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.

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