Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives Consensus Rating of “Buy” from Analysts

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has earned a consensus rating of “Buy” from the fourteen research firms that are covering the company, Marketbeat.com reports. Fourteen investment analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have issued a report on the stock in the last year is $129.43.

Several analysts recently commented on the stock. Truist Financial raised their price target on shares of Axsome Therapeutics from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Monday. 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. HC Wainwright restated a “buy” rating on shares of Axsome Therapeutics in a report on Tuesday, December 31st. Royal Bank of Canada raised their price target on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Robert W. Baird increased their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors have recently added to or reduced their stakes in AXSM. FMR LLC grew its position in Axsome Therapeutics by 20.6% in the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after acquiring an additional 185,951 shares during the period. Geode Capital Management LLC increased its position in shares of Axsome Therapeutics by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 908,459 shares of the company’s stock worth $81,659,000 after purchasing an additional 23,564 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Axsome Therapeutics by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock valued at $66,750,000 after purchasing an additional 8,125 shares during the last quarter. Millennium Management LLC grew its stake in Axsome Therapeutics by 1.4% during the second quarter. Millennium Management LLC now owns 739,819 shares of the company’s stock worth $59,555,000 after buying an additional 10,401 shares during the last quarter. Finally, Hood River Capital Management LLC increased its holdings in shares of Axsome Therapeutics by 5.4% during the second quarter. Hood River Capital Management LLC now owns 549,066 shares of the company’s stock worth $44,200,000 after buying an additional 28,316 shares in the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM opened at $84.60 on Wednesday. Axsome Therapeutics has a 52-week low of $64.11 and a 52-week high of $105.00. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of -12.96 and a beta of 1.04. 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 stock’s fifty day simple moving average is $92.12 and its 200 day simple moving average is $89.25.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, topping the consensus estimate of ($1.38) by $0.04. The business had revenue of $104.76 million for the quarter, compared to the consensus estimate 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 firm posted ($1.32) earnings per share. As a group, sell-side analysts forecast that Axsome Therapeutics will post -4.6 earnings per share for the current fiscal 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.