HC Wainwright Reiterates Buy Rating for Axsome Therapeutics (NASDAQ:AXSM)

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $180.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 95.80% from the stock’s previous close.

Several other research firms also recently weighed in on AXSM. Robert W. Baird raised their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Royal Bank of Canada lifted their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Needham & Company LLC reiterated a “buy” rating and set a $133.00 target price on shares of Axsome Therapeutics in a research report on Monday, January 13th. Truist Financial lifted their price target on Axsome Therapeutics from $150.00 to $180.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $130.69.

Axsome Therapeutics Stock Down 1.9 %

Axsome Therapeutics stock opened at $91.93 on Tuesday. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of -14.08 and a beta of 1.04. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $105.00. The stock’s fifty day moving average is $92.29 and its two-hundred day moving average is $89.61.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.38) by $0.04. The company had revenue of $104.76 million for 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 earned ($1.32) earnings per share. Analysts predict that Axsome Therapeutics will post -4.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AXSM. Northwestern Mutual Wealth Management Co. acquired a new stake in Axsome Therapeutics during the 2nd quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Axsome Therapeutics during the 2nd quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Axsome Therapeutics by 22.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after buying an additional 318 shares in the last quarter. Moors & Cabot Inc. bought a new stake in shares of Axsome Therapeutics in the third quarter worth $200,000. Finally, Whalen Wealth Management Inc. acquired a new stake in Axsome Therapeutics in the third quarter valued at $236,000. 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.