Axsome Therapeutics (NASDAQ:AXSM) Shares Up 5.3% After Analyst Upgrade

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report)'s share price was up 5.3% during trading on Monday after Truist Financial raised their price target on the stock from $150.00 to $180.00. Truist Financial currently has a buy rating on the stock. Axsome Therapeutics traded as high as $84.36 and last traded at $84.29. Approximately 175,798 shares traded hands during trading, a decline of 77% from the average daily volume of 772,864 shares. The stock had previously closed at $80.05.

A number of other research analysts have also recently commented on AXSM. Needham & Company LLC restated a "buy" rating and issued a $133.00 target price on shares of Axsome Therapeutics in a research note on Monday, January 6th. HC Wainwright reissued a "buy" rating on shares of Axsome Therapeutics in a research report on Tuesday, December 31st. Mizuho reduced their target price on shares of Axsome Therapeutics from $124.00 to $122.00 and set an "outperform" rating on the stock in a research report on Tuesday, December 31st. Cantor Fitzgerald reissued an "overweight" rating and set a $121.00 price target on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Finally, Royal Bank of Canada boosted their price objective 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. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Axsome Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $129.43.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Rhumbline Advisers increased its holdings in Axsome Therapeutics by 5.1% in the 2nd quarter. Rhumbline Advisers now owns 54,931 shares of the company's stock worth $4,422,000 after buying an additional 2,674 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Axsome Therapeutics by 2.1% during the second quarter. Arizona State Retirement System now owns 8,630 shares of the company's stock valued at $695,000 after purchasing an additional 177 shares during the last quarter. WINTON GROUP Ltd lifted its position in Axsome Therapeutics by 156.6% during the second quarter. WINTON GROUP Ltd now owns 8,823 shares of the company's stock valued at $710,000 after purchasing an additional 5,385 shares during the period. Sofinnova Investments Inc. bought a new position in Axsome Therapeutics during the second quarter valued at approximately $24,971,000. Finally, XTX Topco Ltd boosted its holdings in Axsome Therapeutics by 177.9% in the second quarter. XTX Topco Ltd now owns 11,205 shares of the company's stock worth $902,000 after purchasing an additional 7,173 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company's stock.

Axsome Therapeutics Stock Performance

The firm has a market cap of $4.33 billion, a P/E ratio of -13.67 and a beta of 1.04. 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 business's 50-day simple moving average is $92.21 and its 200 day simple moving average is $89.22.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The company had revenue of $104.76 million for the quarter, compared to the consensus estimate of $98.71 million. During the same quarter last year, the firm posted ($1.32) earnings per share. As a group, equities analysts predict that Axsome Therapeutics, Inc. will post -4.6 earnings per share for the current year.

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.