Axsome Therapeutics, Inc. (NASDAQ:AXSM) Given Average Rating of "Buy" by Brokerages

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) has received a consensus recommendation of "Buy" from the fourteen research firms that are currently covering the stock, MarketBeat reports. Fourteen research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $125.93.

AXSM has been the topic of several recent analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $130.00 price target on shares of Axsome Therapeutics in a report on Tuesday, November 12th. Wells Fargo & Company started coverage on shares of Axsome Therapeutics in a research report on Tuesday, September 3rd. They set an "overweight" rating and a $140.00 price target on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $121.00 price objective on shares of Axsome Therapeutics in a report on Thursday, December 12th. 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. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $180.00 target price on shares of Axsome Therapeutics in a research report on Monday, November 25th.

Axsome Therapeutics Price Performance

NASDAQ:AXSM traded up $0.99 during trading hours on Friday, hitting $90.73. The stock had a trading volume of 956,380 shares, compared to its average volume of 610,942. Axsome Therapeutics has a one year low of $64.11 and a one year high of $105.00. 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 market capitalization of $4.40 billion, a price-to-earnings ratio of -13.89 and a beta of 1.18. The company has a 50 day simple moving average of $93.65 and a two-hundred day simple moving average of $87.87.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) 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 analyst estimates 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 firm earned ($1.32) EPS. Research analysts forecast that Axsome Therapeutics will post -4.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Axsome Therapeutics

A number of hedge funds have recently modified their holdings of AXSM. PDT Partners LLC bought a new stake in shares of Axsome Therapeutics during the 3rd quarter valued at $1,052,000. Captrust Financial Advisors purchased a new stake in Axsome Therapeutics in the 3rd quarter worth $514,000. BNP Paribas Financial Markets raised its holdings in Axsome Therapeutics by 71.7% during the third quarter. BNP Paribas Financial Markets now owns 13,733 shares of the company's stock valued at $1,234,000 after acquiring an additional 5,737 shares during the period. XTX Topco Ltd lifted its position in shares of 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. Finally, Erste Asset Management GmbH purchased a new position in shares of Axsome Therapeutics in the third quarter valued at about $986,000. 81.49% of the stock is currently owned by institutional investors.

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.