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

Axsome Therapeutics, Inc. (NASDAQ:AXSM)’s stock price reached a new 52-week high during mid-day trading on Friday after HC Wainwright raised their price target on the stock from $190.00 to $200.00. HC Wainwright currently has a buy rating on the stock. Axsome Therapeutics traded as high as $134.74 and last traded at $135.28, with a volume of 363841 shares changing hands. The stock had previously closed at $129.10.

A number of other analysts also recently issued reports on AXSM. Wells Fargo & Company lifted their target price on Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Royal Bank of Canada lifted their target price on Axsome Therapeutics from $143.00 to $192.00 and gave the company an “outperform” rating in a research report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $153.00 target price on shares of Axsome Therapeutics in a research report on Wednesday. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Leerink Partners lifted their price target on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.64.

Insider Transactions at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, the chief financial officer now owns 42,187 shares in the company, valued at $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Several institutional investors have recently made changes to their positions in AXSM. Boxer Capital Management LLC bought a new stake in shares of Axsome Therapeutics in the fourth quarter valued at approximately $39,767,000. Lazard Asset Management LLC boosted its stake in shares of Axsome Therapeutics by 525.7% in the fourth quarter. Lazard Asset Management LLC now owns 537,669 shares of the company’s stock valued at $45,492,000 after buying an additional 451,737 shares during the period. Norges Bank bought a new stake in shares of Axsome Therapeutics in the fourth quarter valued at approximately $34,100,000. BVF Inc. IL boosted its stake in shares of Axsome Therapeutics by 32.7% in the fourth quarter. BVF Inc. IL now owns 1,388,064 shares of the company’s stock valued at $117,444,000 after buying an additional 342,064 shares during the period. Finally, Iron Triangle Partners LP bought a new stake in shares of Axsome Therapeutics in the third quarter valued at approximately $22,671,000. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Trading Up 6.7 %

The company has a quick ratio of 2.37, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. The firm has a market capitalization of $6.72 billion, a P/E ratio of -23.00 and a beta of 1.05. The firm has a 50 day moving average of $101.29 and a 200-day moving average of $94.84.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. The business had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $117.83 million. On average, equities research analysts predict that Axsome Therapeutics, Inc. will post -2.26 earnings per share 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.