Short Interest in Axsome Therapeutics, Inc. (NASDAQ:AXSM) Declines By 7.9%

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) was the recipient of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 6,520,000 shares, a decrease of 7.9% from the November 30th total of 7,080,000 shares. Based on an average trading volume of 488,200 shares, the days-to-cover ratio is presently 13.4 days.

Axsome Therapeutics Trading Down 0.2 %

AXSM stock traded down $0.17 during midday trading on Tuesday, hitting $84.61. The stock had a trading volume of 1,088,316 shares, compared to its average volume of 623,040. 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 business has a fifty day moving average price of $93.26 and a two-hundred day moving average price of $88.67. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $105.00. The firm has a market cap of $4.10 billion, a P/E ratio of -12.96 and a beta of 1.18.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced 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. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The company had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. During the same quarter in the prior year, the company earned ($1.32) EPS. On average, sell-side analysts predict that Axsome Therapeutics will post -4.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. HC Wainwright reaffirmed a "buy" rating on shares of Axsome Therapeutics in a report on Tuesday. Royal Bank of Canada boosted their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $121.00 price target on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Needham & Company LLC restated a "buy" rating and set a $130.00 price objective on shares of Axsome Therapeutics in a research report on Monday. Finally, Wells Fargo & Company started coverage on Axsome Therapeutics in a research report on Tuesday, September 3rd. They issued an "overweight" rating and a $140.00 target price for the company. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $127.07.

Institutional Inflows and Outflows

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