Axsome Therapeutics (NASDAQ:AXSM) Sets New 1-Year High – Here’s What Happened

Axsome Therapeutics, Inc. (NASDAQ:AXSM)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $107.09 and last traded at $106.08, with a volume of 42117 shares trading hands. The stock had previously closed at $105.14.

Wall Street Analyst Weigh In

AXSM has been the subject of several research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $133.00 target price on shares of Axsome Therapeutics in a research note on Monday, January 13th. Robert W. Baird upped their price objective on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. William Blair restated an “outperform” rating on shares of Axsome Therapeutics in a research report on Friday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $139.00 price target on shares of Axsome Therapeutics in a report on Wednesday. Finally, Cantor Fitzgerald reiterated 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 fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.08.

Axsome Therapeutics Stock Down 2.2 %

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 firm has a 50 day moving average price of $93.57 and a two-hundred day moving average price of $90.81.

Axsome Therapeutics (NASDAQ:AXSM) last released 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. The business had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter in the prior year, the firm posted ($1.32) EPS. As a group, research analysts predict that Axsome Therapeutics, Inc. will post -4.72 earnings per share for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of AXSM. FMR LLC raised its position in shares of Axsome Therapeutics by 20.6% in the 3rd 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 in the last quarter. Geode Capital Management LLC increased its holdings in Axsome Therapeutics by 2.7% in the third 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 in the last quarter. Wellington Management Group LLP increased its holdings in Axsome Therapeutics by 1.1% in the third quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock worth $66,750,000 after purchasing an additional 8,125 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Axsome Therapeutics by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 322,596 shares of the company’s stock worth $28,992,000 after buying an additional 12,778 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its position in shares of Axsome Therapeutics by 11.0% during the 3rd quarter. Loomis Sayles & Co. L P now owns 298,586 shares of the company’s stock worth $26,834,000 after buying an additional 29,497 shares during the period. Institutional investors and hedge funds own 81.49% of the company’s stock.

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.