Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives Consensus Rating of "Buy" from Analysts

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) has earned an average recommendation of "Buy" from the thirteen analysts that are covering the company, MarketBeat reports. Thirteen research analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $130.69.

Several research firms have recently weighed in on AXSM. StockNews.com raised Axsome Therapeutics from a "sell" rating to a "hold" rating in a research report on Wednesday, November 20th. Cantor Fitzgerald reissued an "overweight" rating and set a $121.00 price target on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Mizuho reduced their price target on Axsome Therapeutics from $124.00 to $122.00 and set an "outperform" rating for the company in a research report on Tuesday, December 31st. Truist Financial increased their price target on Axsome Therapeutics from $150.00 to $180.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Finally, Robert W. Baird increased their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th.

Axsome Therapeutics Stock Down 1.9 %

Shares of AXSM stock traded down $1.76 on Wednesday, hitting $91.93. 808,350 shares of the stock were exchanged, compared to its average volume of 724,302. 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 firm has a market capitalization of $4.45 billion, a P/E ratio of -14.08 and a beta of 1.04. The business has a 50-day moving average of $92.27 and a 200 day moving average of $89.39. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, topping the consensus estimate of ($1.38) by $0.04. The company had revenue of $104.76 million during the quarter, compared to analysts' expectations 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 period in the prior year, the firm earned ($1.32) earnings per share. Equities analysts anticipate that Axsome Therapeutics will post -4.61 EPS for the current year.

Institutional Trading of Axsome Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in Axsome Therapeutics by 20.6% during the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company's stock worth $97,786,000 after purchasing an additional 185,951 shares during the last quarter. Geode Capital Management LLC raised its holdings in Axsome Therapeutics by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 908,459 shares of the company's stock valued at $81,659,000 after acquiring an additional 23,564 shares in the last quarter. Wellington Management Group LLP raised its holdings in Axsome Therapeutics by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company's stock valued at $66,750,000 after acquiring an additional 8,125 shares in the last quarter. Millennium Management LLC raised its holdings in Axsome Therapeutics by 1.4% in the 2nd quarter. Millennium Management LLC now owns 739,819 shares of the company's stock valued at $59,555,000 after acquiring an additional 10,401 shares in the last quarter. Finally, Hood River Capital Management LLC raised its holdings in Axsome Therapeutics by 5.4% in the 2nd quarter. Hood River Capital Management LLC now owns 549,066 shares of the company's stock valued at $44,200,000 after acquiring an additional 28,316 shares in the last quarter. 81.49% of the stock is 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.