Axsome Therapeutics (NASDAQ:AXSM) Receives “Overweight” Rating from Cantor Fitzgerald

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “overweight” rating reiterated by equities research analysts at Cantor Fitzgerald in a research note issued to investors on Thursday,Benzinga reports. They currently have a $121.00 price objective on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 34.30% from the company’s current price.

AXSM has been the subject of several other reports. Robert W. Baird increased their price objective on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a research note on Monday, November 25th. Royal Bank of Canada boosted their price objective on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Wells Fargo & Company initiated coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price target on the stock. Finally, StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $125.93.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $90.10 on Thursday. The company has a market capitalization of $4.37 billion, a P/E ratio of -13.80 and a beta of 1.18. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $105.00. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The company’s 50 day moving average price is $93.02 and its two-hundred day moving average price is $87.31.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. The business had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same period last year, the business posted ($1.32) earnings per share. On average, analysts expect that Axsome Therapeutics will post -4.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AXSM. Northwestern Mutual Wealth Management Co. bought a new stake in Axsome Therapeutics in the 2nd quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Axsome Therapeutics in the second quarter valued at about $47,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Axsome Therapeutics by 22.4% during 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 during the last quarter. Moors & Cabot Inc. bought a new stake in shares of Axsome Therapeutics during the 3rd quarter worth about $200,000. Finally, Whalen Wealth Management Inc. acquired a new position in Axsome Therapeutics in the 3rd quarter valued at about $236,000. 81.49% of the stock is currently owned by institutional investors.

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.