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

Axsome Therapeutics, Inc. (NASDAQ:AXSM)’s stock price was 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. Approximately 175,798 shares changed hands during trading, a decline of 77% from the average daily volume of 772,864 shares. The stock had previously closed at $80.05.

A number of other brokerages also recently issued reports on AXSM. Needham & Company LLC reaffirmed a “buy” rating and issued a $133.00 price target on shares of Axsome Therapeutics in a report on Monday, January 6th. HC Wainwright restated a “buy” rating on shares of Axsome Therapeutics in a report on Tuesday, December 31st. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Mizuho decreased their price objective on shares of Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating for the company in a research note on Tuesday, December 31st. Finally, Robert W. Baird boosted their target price on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $129.43.

Institutional Trading of Axsome Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Axsome Therapeutics during the 2nd quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Axsome Therapeutics in the 2nd quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Axsome Therapeutics by 22.4% during 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. Moors & Cabot Inc. purchased a new stake in Axsome Therapeutics during the third quarter worth $200,000. Finally, Whalen Wealth Management Inc. acquired a new stake in Axsome Therapeutics in the third quarter valued at $236,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Stock Down 5.2 %

The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The firm has a 50 day moving average price of $92.12 and a 200-day moving average price of $89.25. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of -12.96 and a beta of 1.04.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) 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 company had revenue of $104.76 million for the quarter, compared to the consensus estimate of $98.71 million. During the same quarter in the prior year, the firm earned ($1.32) earnings per share. On average, equities analysts forecast 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.