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

Axsome Therapeutics, Inc. (NASDAQ:AXSM) shares reached a new 52-week high on Tuesday after Wells Fargo & Company raised their price target on the stock from $140.00 to $160.00. Wells Fargo & Company currently has an overweight 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.

Other equities research analysts have also issued research reports about the stock. Bank of America upped their target price on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $190.00 target price on shares of Axsome Therapeutics in a report on Tuesday. Mizuho upped their target price on shares of Axsome Therapeutics from $137.00 to $195.00 and gave the stock an “outperform” rating in a report on Tuesday. William Blair reissued an “outperform” rating on shares of Axsome Therapeutics in a report on Friday, January 24th. Finally, Leerink Partners increased their price objective on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $147.13.

Institutional Trading of Axsome Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Pitcairn Co. raised its holdings in Axsome Therapeutics by 3.4% during the 4th quarter. Pitcairn Co. now owns 4,562 shares of the company’s stock worth $386,000 after buying an additional 148 shares during the period. Trexquant Investment LP acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at approximately $1,195,000. Geode Capital Management LLC raised its holdings in shares of Axsome Therapeutics by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 912,538 shares of the company’s stock valued at $77,228,000 after purchasing an additional 4,079 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Axsome Therapeutics by 13.6% in the fourth quarter. Franklin Resources Inc. now owns 182,290 shares of the company’s stock valued at $15,424,000 after acquiring an additional 21,756 shares during the last quarter. Finally, Intrust Bank NA increased its position in shares of Axsome Therapeutics by 6.9% in the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company’s stock valued at $239,000 after acquiring an additional 183 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Trading Down 0.5 %

The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. The business has a 50-day moving average of $96.55 and a 200-day moving average of $92.67. The firm has a market cap of $6.37 billion, a price-to-earnings ratio of -20.15 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. The business had revenue of $104.76 million for the quarter, compared to the consensus estimate of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same quarter in the previous year, the business earned ($1.32) earnings per share. Research analysts anticipate that Axsome Therapeutics, Inc. will post -4.7 EPS for the current 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.