Axsome Therapeutics (NASDAQ:AXSM) Stock Price Up 5.3% on Analyst Upgrade

Axsome Therapeutics, Inc. (NASDAQ:AXSM)’s share price rose 5.3% during trading on Monday after Truist Financial raised their price target on the stock from $150.00 to $180.00. Truist Financial currently has a buy rating on the stock. Axsome Therapeutics traded as high as $84.36 and last traded at $84.29. Approximately 175,798 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 772,864 shares. The stock had previously closed at $80.05.

A number of other research analysts have also recently weighed in on AXSM. Mizuho reduced their target price on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a report on Tuesday, December 31st. HC Wainwright reaffirmed a “buy” rating on shares of Axsome Therapeutics in a research note on Tuesday, December 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $121.00 target price on shares of Axsome Therapeutics in a research report on Thursday, December 12th. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Royal Bank of Canada boosted their price objective on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Axsome Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $129.43.

Institutional Trading of Axsome Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers grew its stake in Axsome Therapeutics by 5.1% during the 2nd quarter. Rhumbline Advisers now owns 54,931 shares of the company’s stock valued at $4,422,000 after purchasing an additional 2,674 shares in the last quarter. Arizona State Retirement System grew its position in shares of Axsome Therapeutics by 2.1% during the second quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock worth $695,000 after buying an additional 177 shares in the last quarter. WINTON GROUP Ltd grew its position in shares of Axsome Therapeutics by 156.6% during the second quarter. WINTON GROUP Ltd now owns 8,823 shares of the company’s stock worth $710,000 after buying an additional 5,385 shares in the last quarter. Sofinnova Investments Inc. bought a new stake in shares of Axsome Therapeutics in the second quarter worth $24,971,000. Finally, XTX Topco Ltd raised its holdings in Axsome Therapeutics by 177.9% in the second quarter. XTX Topco Ltd now owns 11,205 shares of the company’s stock valued at $902,000 after acquiring an additional 7,173 shares in the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Stock Up 7.8 %

The stock has a market capitalization of $4.18 billion, a P/E ratio of -13.21 and a beta of 1.04. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The stock’s 50 day simple moving average is $92.17 and its 200 day simple moving average is $89.16.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly 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. The business had revenue of $104.76 million for the quarter, compared to analysts’ expectations 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 last year, the company posted ($1.32) earnings per share. As a group, research analysts predict that Axsome Therapeutics, Inc. will post -4.6 EPS 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.