Axsome Therapeutics’ (AXSM) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a report released on Thursday morning,Benzinga reports. They currently have a $121.00 price objective on the stock.

Other analysts also recently issued reports about the stock. Robert W. Baird boosted their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, November 12th. HC Wainwright restated a “buy” rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research report on Monday, November 25th. Finally, Royal Bank of Canada increased their price target on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $125.93.

Axsome Therapeutics Stock Down 4.5 %

AXSM stock opened at $90.10 on Thursday. The firm’s 50-day moving average is $93.02 and its two-hundred day moving average is $87.39. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of -13.80 and a beta of 1.18. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $105.00. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $98.71 million. During the same quarter in the previous year, the company earned ($1.32) earnings per share. On average, analysts forecast that Axsome Therapeutics will post -4.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Axsome Therapeutics

Several large investors have recently made changes to their positions in AXSM. FMR LLC grew its stake in shares of Axsome Therapeutics by 20.6% in the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after acquiring an additional 185,951 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Axsome Therapeutics by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 908,459 shares of the company’s stock worth $81,659,000 after purchasing an additional 23,564 shares during the period. Wellington Management Group LLP lifted its stake in shares of Axsome Therapeutics by 1.1% in the third quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock valued at $66,750,000 after buying an additional 8,125 shares during the period. Millennium Management LLC grew its position in Axsome Therapeutics by 1.4% during the second quarter. Millennium Management LLC now owns 739,819 shares of the company’s stock worth $59,555,000 after buying an additional 10,401 shares in the last quarter. Finally, Hood River Capital Management LLC raised its holdings in Axsome Therapeutics by 5.4% in the 2nd quarter. Hood River Capital Management LLC now owns 549,066 shares of the company’s stock valued at $44,200,000 after acquiring an additional 28,316 shares in the last quarter. Institutional investors and hedge funds 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.