Axsome Therapeutics’ (AXSM) “Outperform” Rating Reiterated at William Blair

William Blair reaffirmed their outperform rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a report issued on Friday,RTT News reports.

Other equities analysts have also issued research reports about the company. HC Wainwright reaffirmed a “buy” rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, January 21st. Royal Bank of Canada lifted their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $121.00 price target on shares of Axsome Therapeutics in a report on Thursday, December 12th. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Truist Financial upped their price objective on Axsome Therapeutics from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $130.69.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $103.11 on Friday. The company has a 50 day simple moving average of $92.64 and a two-hundred day simple moving average of $90.15. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $105.00. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of -15.79 and a beta of 1.04. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. The company had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same quarter last year, the company earned ($1.32) EPS. Analysts expect that Axsome Therapeutics will post -4.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Axsome Therapeutics

Several institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in 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 period. PDT Partners LLC purchased a new stake in shares of Axsome Therapeutics in the 3rd quarter worth $1,052,000. Pallas Capital Advisors LLC bought a new position in Axsome Therapeutics in the 4th quarter worth $2,237,000. Captrust Financial Advisors purchased a new position in Axsome Therapeutics during the third quarter valued at $514,000. Finally, BNP Paribas Financial Markets grew its holdings in Axsome Therapeutics by 71.7% during the third quarter. BNP Paribas Financial Markets now owns 13,733 shares of the company’s stock valued at $1,234,000 after purchasing an additional 5,737 shares during the period. 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.