Axsome Therapeutics, Inc. (NASDAQ:AXSM) Short Interest Down 14.0% in March

Axsome Therapeutics, Inc. (NASDAQ:AXSM) was the target of a significant decrease in short interest in March. As of March 15th, there was short interest totalling 4,910,000 shares, a decrease of 14.0% from the February 28th total of 5,710,000 shares. Currently, 13.0% of the company’s stock are sold short. Based on an average daily volume of 938,000 shares, the days-to-cover ratio is presently 5.2 days.

Axsome Therapeutics Price Performance

NASDAQ AXSM opened at $109.75 on Thursday. The stock has a 50-day simple moving average of $120.62 and a 200 day simple moving average of $101.58. Axsome Therapeutics has a twelve month low of $64.11 and a twelve month high of $139.13. The stock has a market capitalization of $5.35 billion, a PE ratio of -18.32 and a beta of 1.00. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share 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 company had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $117.83 million. Research analysts anticipate that Axsome Therapeutics will post -2.79 EPS for the current year.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the transaction, the chief financial officer now owns 42,187 shares in the company, valued at approximately $5,529,450.09. This represents a 6.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 22.40% of the stock is owned by insiders.

Institutional Trading of Axsome Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted 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 valued at $19,062,000 after buying an additional 27,534 shares during the period. Strategic Financial Concepts LLC acquired a new position in Axsome Therapeutics in the 4th quarter valued at approximately $2,599,000. Intech Investment Management LLC lifted its position in shares of Axsome Therapeutics by 46.5% in the 4th quarter. Intech Investment Management LLC now owns 16,028 shares of the company’s stock worth $1,356,000 after acquiring an additional 5,087 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Axsome Therapeutics during the 4th quarter worth approximately $14,771,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Axsome Therapeutics by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company’s stock valued at $27,755,000 after purchasing an additional 5,438 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AXSM has been the topic of a number of research reports. Robert W. Baird upped their price target on shares of Axsome Therapeutics from $132.00 to $160.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Truist Financial raised their price target on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Bank of America boosted their price target on Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Royal Bank of Canada increased their price objective on Axsome Therapeutics from $143.00 to $192.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Axsome Therapeutics in a research report on Tuesday, February 11th. They issued a “buy” rating and a $176.00 target price for the company. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Axsome Therapeutics has an average rating of “Moderate Buy” and an average price target of $167.64.

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.