Axsome Therapeutics (NASDAQ:AXSM) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research note published on Tuesday, MarketBeat Ratings reports. The firm issued a buy rating and a $176.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the company. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Truist Financial lifted their price target on Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Mizuho boosted their price objective on Axsome Therapeutics from $122.00 to $137.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $133.00 target price on shares of Axsome Therapeutics in a research note on Monday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $121.00 price target on shares of Axsome Therapeutics in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $145.80.

Axsome Therapeutics Price Performance

Axsome Therapeutics stock opened at $132.20 on Tuesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. Axsome Therapeutics has a one year low of $64.11 and a one year high of $134.19. The firm has a market capitalization of $6.41 billion, a P/E ratio of -20.25 and a beta of 1.05. The business has a fifty day moving average price of $95.28 and a 200-day moving average price of $92.07.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results 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. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The business had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. During the same quarter in the previous year, the firm earned ($1.32) EPS. As a group, equities research analysts forecast that Axsome Therapeutics will post -4.7 EPS for the current year.

Institutional Investors Weigh In On Axsome Therapeutics

Institutional investors have recently bought and sold shares of the stock. Iron Triangle Partners LP bought a new stake in Axsome Therapeutics in the third quarter valued at approximately $22,671,000. Principal Financial Group Inc. raised its holdings in Axsome Therapeutics by 6,002.7% during the 4th quarter. Principal Financial Group Inc. now owns 207,065 shares of the company’s stock valued at $17,520,000 after buying an additional 203,672 shares during the last quarter. FMR LLC boosted its position in Axsome Therapeutics by 20.6% during the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after buying an additional 185,951 shares during the period. Raymond James Financial Inc. bought a new stake in Axsome Therapeutics in the 4th quarter worth $14,771,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Axsome Therapeutics in the fourth quarter valued at about $6,219,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

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.