HC Wainwright Reiterates "Buy" Rating for Axsome Therapeutics (NASDAQ:AXSM)

HC Wainwright reaffirmed their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM - Free Report) in a research report sent to investors on Tuesday morning,Benzinga reports.

AXSM has been the topic of a number of other reports. StockNews.com raised Axsome Therapeutics from a "sell" rating to a "hold" rating in a research report on Wednesday, November 20th. Needham & Company LLC reissued a "buy" rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a research note on Monday. Robert W. Baird upped their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Cantor Fitzgerald reiterated an "overweight" rating and set a $121.00 target price on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Finally, Wells Fargo & Company assumed coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an "overweight" rating and a $140.00 price target on the stock. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $127.07.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM traded down $0.17 during trading on Tuesday, hitting $84.61. The company's stock had a trading volume of 1,088,316 shares, compared to its average volume of 623,040. 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 cap of $4.10 billion, a price-to-earnings ratio of -12.96 and a beta of 1.18. The company has a 50-day moving average of $93.26 and a 200-day moving average of $88.67. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month 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) 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 return on equity of 158.36% and a negative net margin of 91.87%. During the same period in the prior year, the business posted ($1.32) EPS. On average, sell-side analysts expect that Axsome Therapeutics will post -4.6 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. PDT Partners LLC acquired a new stake in shares of Axsome Therapeutics during the third quarter worth $1,052,000. Captrust Financial Advisors acquired a new stake in Axsome Therapeutics during the 3rd quarter worth about $514,000. BNP Paribas Financial Markets lifted its position in Axsome Therapeutics by 71.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,733 shares of the company's stock worth $1,234,000 after acquiring an additional 5,737 shares during the period. Erste Asset Management GmbH purchased a new stake in Axsome Therapeutics during the 3rd quarter valued at about $986,000. Finally, XTX Topco Ltd increased its holdings 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 purchasing an additional 7,173 shares during the period. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

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.