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

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) have been assigned an average recommendation of "Buy" from the fourteen research firms that are presently covering the stock, Marketbeat.com reports. Fourteen analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $129.43.

AXSM has been the subject of several recent analyst reports. StockNews.com raised shares of Axsome Therapeutics from a "sell" rating to a "hold" rating in a report on Wednesday, November 20th. Royal Bank of Canada raised their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Robert W. Baird lifted their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Truist Financial increased their price objective on shares of Axsome Therapeutics from $150.00 to $180.00 and gave the company a "buy" rating in a report on Monday. 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 report on Tuesday, December 31st.

Axsome Therapeutics Price Performance

Shares of AXSM traded up $9.15 during trading hours on Wednesday, reaching $93.75. 1,149,187 shares of the stock traded hands, compared to its average volume of 1,009,752. The company has a market cap of $4.54 billion, a P/E ratio of -14.36 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 company's 50-day moving average price is $92.18 and its two-hundred day moving average price is $89.28. Axsome Therapeutics has a 52-week low of $64.11 and a 52-week high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The business had revenue of $104.76 million for the quarter, compared to the consensus estimate of $98.71 million. During the same period in the previous year, the business earned ($1.32) earnings per share. On average, analysts anticipate that Axsome Therapeutics will post -4.6 earnings per share for the current year.

Institutional Trading of Axsome Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. bought a new position in Axsome Therapeutics during the second quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Axsome Therapeutics during the 2nd quarter worth about $47,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Axsome Therapeutics by 22.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company's stock worth $156,000 after purchasing an additional 318 shares during the period. Moors & Cabot Inc. bought a new position in Axsome Therapeutics during the 3rd quarter valued at about $200,000. Finally, Whalen Wealth Management Inc. purchased a new stake in Axsome Therapeutics in the 3rd quarter worth about $236,000. Hedge funds and other institutional investors own 81.49% of the company's stock.

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.