Deutsche Bank Aktiengesellschaft Initiates Coverage on Axsome Therapeutics (NASDAQ:AXSM)

Deutsche Bank Aktiengesellschaft began coverage on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research note issued to investors on Tuesday, MarketBeat reports. The firm issued a buy rating and a $176.00 price target on the stock.

Several other research firms have also weighed in on AXSM. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Truist Financial boosted their target price on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $139.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, January 29th. Needham & Company LLC reissued a “buy” rating and set a $133.00 price objective on shares of Axsome Therapeutics in a research note on Monday. Finally, Robert W. Baird upped their price objective 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. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Axsome Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $145.80.

Axsome Therapeutics Stock Up 4.0 %

Shares of NASDAQ AXSM opened at $132.20 on Tuesday. The firm has a fifty day simple moving average of $95.28 and a two-hundred day simple moving average of $92.07. The firm has a market capitalization of $6.41 billion, a PE ratio of -20.25 and a beta of 1.05. 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 has a 12 month low of $64.11 and a 12 month high of $134.19.

Axsome Therapeutics (NASDAQ:AXSM) last issued 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. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The business had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. During the same period last year, the business posted ($1.32) earnings per share. Equities analysts expect that Axsome Therapeutics will post -4.7 earnings per share for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Meridian Wealth Management LLC raised its holdings in shares of Axsome Therapeutics by 0.7% during the fourth quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company’s stock valued at $1,791,000 after purchasing an additional 150 shares during the last quarter. Arizona State Retirement System increased its position in shares of Axsome Therapeutics by 1.8% during the 4th quarter. Arizona State Retirement System now owns 9,054 shares of the company’s stock valued at $766,000 after purchasing an additional 164 shares during the last quarter. Xponance Inc. lifted its stake in shares of Axsome Therapeutics by 11.6% in the 4th quarter. Xponance Inc. now owns 2,659 shares of the company’s stock worth $225,000 after purchasing an additional 277 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Axsome Therapeutics by 22.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after buying an additional 318 shares during the last quarter. Finally, WCM Investment Management LLC grew its position in Axsome Therapeutics by 0.3% during the third quarter. WCM Investment Management LLC now owns 113,692 shares of the company’s stock valued at $10,191,000 after buying an additional 347 shares during the period. 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.