Axsome Therapeutics, Inc. (NASDAQ:AXSM) Short Interest Down 7.9% in November

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) saw a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 7,080,000 shares, a drop of 7.9% from the November 15th total of 7,690,000 shares. Based on an average daily volume of 459,900 shares, the short-interest ratio is presently 15.4 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. boosted its position in shares of Axsome Therapeutics by 47.5% during the 3rd quarter. Franklin Resources Inc. now owns 160,534 shares of the company's stock valued at $13,713,000 after purchasing an additional 51,696 shares in the last quarter. Geode Capital Management LLC lifted its stake in Axsome Therapeutics by 2.7% in the third quarter. Geode Capital Management LLC now owns 908,459 shares of the company's stock valued at $81,659,000 after buying an additional 23,564 shares during the period. Barclays PLC boosted its holdings in shares of Axsome Therapeutics by 279.6% during the 3rd quarter. Barclays PLC now owns 61,785 shares of the company's stock worth $5,552,000 after buying an additional 45,509 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Axsome Therapeutics by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company's stock worth $66,750,000 after buying an additional 8,125 shares during the period. Finally, Iron Triangle Partners LP acquired a new stake in shares of Axsome Therapeutics during the 3rd quarter worth approximately $22,671,000. 81.49% of the stock is owned by institutional investors.

Axsome Therapeutics Trading Down 0.5 %

Shares of AXSM traded down $0.42 during mid-day trading on Monday, reaching $89.68. 600,096 shares of the company were exchanged, compared to its average volume of 610,668. The business has a 50 day simple moving average of $93.02 and a two-hundred day simple moving average of $87.47. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The stock has a market capitalization of $4.35 billion, a PE ratio of -13.73 and a beta of 1.18. 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 released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.38) by $0.04. The firm had revenue of $104.76 million during 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 business earned ($1.32) EPS. On average, analysts predict that Axsome Therapeutics will post -4.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AXSM has been the subject of several recent analyst reports. HC Wainwright restated a "buy" rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research report on Monday, November 25th. Needham & Company LLC restated a "buy" rating and issued a $130.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, November 12th. StockNews.com raised shares of Axsome Therapeutics from a "sell" rating to a "hold" rating in a report on Wednesday, November 20th. Cantor Fitzgerald reissued an "overweight" rating and issued a $121.00 price objective on shares of Axsome Therapeutics in a research note on Thursday. Finally, Robert W. Baird boosted their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $125.93.

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.