Axsome Therapeutics (NASDAQ:AXSM) Stock Price Expected to Rise, HC Wainwright Analyst Says

Axsome Therapeutics (NASDAQ:AXSM) had its target price raised by HC Wainwright from $180.00 to $190.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

AXSM has been the subject of several other reports. Cantor Fitzgerald restated an “overweight” rating and set a $121.00 price target on shares of Axsome Therapeutics in a report on Thursday, December 12th. Robert W. Baird upped 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. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Needham & Company LLC restated a “buy” rating and set a $133.00 target price on shares of Axsome Therapeutics in a research note on Monday, January 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $139.00 target price on shares of Axsome Therapeutics in a report on Wednesday, January 29th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.08.

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock opened at $106.46 on Friday. The company has a market capitalization of $5.16 billion, a PE ratio of -16.30 and a beta of 1.04. Axsome Therapeutics has a twelve month low of $64.11 and a twelve month high of $111.51. 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 firm has a fifty day simple moving average of $93.57 and a two-hundred day simple moving average of $90.90.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.38) by $0.04. The business had revenue of $104.76 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted ($1.32) earnings per share. Research analysts expect that Axsome Therapeutics will post -4.72 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in Axsome Therapeutics by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock valued at $19,062,000 after purchasing an additional 27,534 shares during the last quarter. PDT Partners LLC acquired a new position in shares of Axsome Therapeutics in the third quarter valued at about $1,052,000. Pallas Capital Advisors LLC purchased a new position in Axsome Therapeutics during the 4th quarter worth approximately $2,237,000. Captrust Financial Advisors purchased a new stake in shares of Axsome Therapeutics in the 3rd quarter valued at $514,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Axsome Therapeutics by 71.7% during the third quarter. BNP Paribas Financial Markets now owns 13,733 shares of the company’s stock worth $1,234,000 after purchasing an additional 5,737 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors.

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.