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

Axsome Therapeutics, Inc. (NASDAQ:AXSM) 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.

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:AXSM) 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

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.