Axsome Therapeutics (NASDAQ:AXSM) Trading Up 4% - Here's What Happened

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report)'s share price rose 4% on Tuesday . The company traded as high as $93.38 and last traded at $93.23. Approximately 33,518 shares were traded during trading, a decline of 94% from the average daily volume of 608,318 shares. The stock had previously closed at $89.68.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and set a $130.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, November 12th. Wells Fargo & Company initiated coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an "overweight" rating and a $140.00 target price for the company. HC Wainwright restated a "buy" rating and set a $180.00 price target on shares of Axsome Therapeutics in a research report on Monday, November 25th. StockNews.com upgraded shares of Axsome Therapeutics from a "sell" rating to a "hold" rating in a report on Wednesday, November 20th. Finally, 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. One equities research 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.com, Axsome Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $125.93.

Axsome Therapeutics Stock Up 4.3 %

The company's 50 day moving average price is $93.14 and its two-hundred day moving average price is $87.58. The firm has a market cap of $4.53 billion, a PE ratio of -14.21 and a beta of 1.18. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97.

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 business 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 prior year, the business posted ($1.32) earnings per share. On average, equities research analysts expect that Axsome Therapeutics, Inc. will post -4.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Arizona State Retirement System lifted its holdings in Axsome Therapeutics by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 8,630 shares of the company's stock worth $695,000 after purchasing an additional 177 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Axsome Therapeutics by 22.4% during 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 during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Axsome Therapeutics in the 2nd quarter valued at $27,000. WCM Investment Management LLC boosted its holdings in shares of Axsome Therapeutics by 0.3% during the 3rd quarter. WCM Investment Management LLC now owns 113,692 shares of the company's stock valued at $10,191,000 after purchasing an additional 347 shares during the last quarter. Finally, US Bancorp DE grew its position in shares of Axsome Therapeutics by 0.3% during the third quarter. US Bancorp DE now owns 133,126 shares of the company's stock valued at $11,964,000 after purchasing an additional 421 shares in the last quarter. 81.49% of the stock is owned by 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.