Axsome Therapeutics (NASDAQ:AXSM) Sets New 12-Month High – Here’s What Happened

Axsome Therapeutics, Inc. (NASDAQ:AXSM) shares reached a new 52-week high during trading on Thursday . The company traded as high as $107.09 and last traded at $106.08, with a volume of 42117 shares changing hands. The stock had previously closed at $105.14.

Analyst Ratings Changes

Several research analysts have recently issued reports on AXSM shares. Royal Bank of Canada reissued an “outperform” rating and issued a $139.00 target price on shares of Axsome Therapeutics in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and set a $180.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, January 21st. Truist Financial raised their price target on Axsome Therapeutics from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Robert W. Baird raised their target price on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $131.31.

Axsome Therapeutics Stock Up 2.5 %

The company has a 50-day simple moving average of $93.20 and a 200-day simple moving average of $90.52. The firm has a market cap of $5.22 billion, a PE ratio of -16.50 and a beta of 1.04. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the business earned ($1.32) earnings per share. Analysts expect that Axsome Therapeutics, Inc. will post -4.73 earnings per share for the current fiscal year.

Institutional Trading of Axsome Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in AXSM. Northwestern Mutual Wealth Management Co. purchased a new position in Axsome Therapeutics in the 2nd quarter worth $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Axsome Therapeutics during the 2nd quarter worth about $47,000. R Squared Ltd acquired a new stake in Axsome Therapeutics during the 4th quarter worth about $64,000. KBC Group NV grew its position in Axsome Therapeutics by 40.5% during the 4th quarter. KBC Group NV now owns 1,336 shares of the company’s stock worth $113,000 after purchasing an additional 385 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Axsome Therapeutics by 22.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after purchasing an additional 318 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.