Axsome Therapeutics (NASDAQ:AXSM) Trading Down 4.8% - What's Next?

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) traded down 4.8% during mid-day trading on Monday . The company traded as low as $86.27 and last traded at $86.36. 211,169 shares changed hands during trading, a decline of 65% from the average session volume of 609,253 shares. The stock had previously closed at $90.73.

Analysts Set New Price Targets

Several research analysts have issued reports on AXSM shares. Wells Fargo & Company assumed coverage on shares of Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an "overweight" rating and a $140.00 target price for the company. Royal Bank of Canada boosted their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an "outperform" rating in a research report on Friday, October 4th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $121.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, December 12th. 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. Finally, HC Wainwright reiterated a "buy" rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research report on Monday, November 25th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $125.93.

Axsome Therapeutics Stock Down 4.2 %

The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of -13.32 and a beta of 1.18. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The company's 50 day moving average price is $93.68 and its 200 day moving average price is $88.16.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping analysts' consensus estimates of ($1.38) by $0.04. The company had revenue of $104.76 million during the quarter, compared to analysts' expectations 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 quarter in the previous year, the firm posted ($1.32) EPS. As a group, research analysts forecast that Axsome Therapeutics, Inc. will post -4.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. acquired 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 valued at about $47,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Axsome Therapeutics by 22.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company's stock valued at $156,000 after buying an additional 318 shares during the period. Moors & Cabot Inc. purchased a new stake in shares of Axsome Therapeutics in the third quarter worth about $200,000. Finally, Whalen Wealth Management Inc. acquired a new stake in Axsome Therapeutics during the third quarter worth about $236,000. 81.49% of the stock is 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.