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

Axsome Therapeutics, Inc. (NASDAQ:AXSM) hit a new 52-week high during mid-day trading 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 traded. The stock had previously closed at $105.76.

A number of other research analysts also recently issued reports on the stock. HC Wainwright upped their target price on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Mizuho upped their target price on shares of Axsome Therapeutics from $122.00 to $137.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $121.00 target price on shares of Axsome Therapeutics in a research report on Thursday, December 12th. William Blair restated an “outperform” rating on shares of Axsome Therapeutics in a research report on Friday, January 24th. Finally, Truist Financial upped their target price on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.14.

Institutional Trading of Axsome Therapeutics

A number of large investors have recently bought and sold shares of AXSM. Northwestern Mutual Wealth Management Co. bought a new stake in Axsome Therapeutics during the 2nd quarter worth approximately $27,000. Assetmark Inc. bought a new stake in Axsome Therapeutics during the 4th quarter worth approximately $52,000. R Squared Ltd bought a new stake in Axsome Therapeutics during the 4th quarter worth approximately $64,000. KBC Group NV increased its stake in Axsome Therapeutics by 40.5% during the 4th quarter. KBC Group NV now owns 1,336 shares of the company’s stock worth $113,000 after purchasing an additional 385 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Axsome Therapeutics by 22.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after purchasing an additional 318 shares in the last quarter. 81.49% of the stock is owned by institutional investors.

Axsome Therapeutics Trading Up 20.2 %

The business has a 50 day moving average of $94.72 and a 200-day moving average of $91.78. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The firm has a market capitalization of $6.16 billion, a P/E ratio of -19.46 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly 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 company 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 last year, the business earned ($1.32) EPS. Analysts anticipate that Axsome Therapeutics, Inc. will post -4.7 EPS for the current fiscal year.

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.