Axsome Therapeutics’ (AXSM) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a report released on Tuesday,Benzinga reports. They currently have a $180.00 price objective on the stock.

Several other equities analysts have also issued reports on AXSM. Robert W. Baird boosted their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $121.00 target price on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Truist Financial lifted their price target on shares of Axsome Therapeutics from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Needham & Company LLC restated a “buy” rating and issued a $133.00 price objective on shares of Axsome Therapeutics in a research note on Monday, January 13th. Finally, Mizuho decreased their target price on shares of Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 31st. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $130.69.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM opened at $96.18 on Tuesday. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $105.00. The company has a market cap of $4.66 billion, a P/E ratio of -14.73 and a beta of 1.04. The business’s 50 day moving average is $92.29 and its two-hundred day moving average is $89.61. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.38) by $0.04. The firm had revenue of $104.76 million during 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 period in the prior year, the company earned ($1.32) EPS. On average, equities analysts expect that Axsome Therapeutics will post -4.7 EPS for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC increased its stake in shares of Axsome Therapeutics by 90.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 13,745 shares of the company’s stock valued at $1,163,000 after buying an additional 6,546 shares in the last quarter. Flower City Capital acquired a new stake in Axsome Therapeutics in the 4th quarter valued at about $254,000. Pallas Capital Advisors LLC acquired a new stake in Axsome Therapeutics in the 4th quarter valued at about $2,237,000. JPMorgan Chase & Co. raised its stake in shares of Axsome Therapeutics by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock worth $19,062,000 after acquiring an additional 27,534 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Axsome Therapeutics by 47.5% during the third quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock worth $13,713,000 after purchasing an additional 51,696 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

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.