William Blair Reiterates “Outperform” Rating for Axsome Therapeutics (NASDAQ:AXSM)

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “outperform” rating reaffirmed by equities research analysts at William Blair in a report released on Friday,RTT News reports.

Several other research firms also recently weighed in on AXSM. Truist Financial raised their price objective on Axsome Therapeutics from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, January 13th. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Cantor Fitzgerald restated an “overweight” rating and set a $121.00 target price on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Robert W. Baird increased their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Mizuho reduced their target price on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 31st. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.69.

Axsome Therapeutics Price Performance

Shares of Axsome Therapeutics stock traded down $0.64 during trading on Friday, reaching $103.26. The company’s stock had a trading volume of 129,535 shares, compared to its average volume of 967,156. The business has a 50 day moving average price of $92.32 and a 200-day moving average price of $89.80. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $105.00. The company has a market capitalization of $5.00 billion, a P/E ratio of -15.81 and a beta of 1.04. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The business had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $98.71 million. During the same period in the prior year, the company posted ($1.32) EPS. As a group, sell-side analysts anticipate that Axsome Therapeutics will post -4.73 EPS for the current year.

Institutional Investors Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its stake in shares of Axsome Therapeutics by 11.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,276 shares of the company’s stock valued at $869,000 after acquiring an additional 1,044 shares during the period. R Squared Ltd purchased a new position in Axsome Therapeutics in the fourth quarter valued at about $64,000. KBC Group NV lifted its stake in shares of Axsome Therapeutics by 40.5% during the fourth quarter. KBC Group NV now owns 1,336 shares of the company’s stock worth $113,000 after purchasing an additional 385 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Axsome Therapeutics by 90.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 13,745 shares of the company’s stock worth $1,163,000 after buying an additional 6,546 shares during the period. Finally, Flower City Capital acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at about $254,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.