Axsome Therapeutics (NASDAQ:AXSM) Sets New 12-Month High Following Analyst Upgrade

Axsome Therapeutics, Inc. (NASDAQ:AXSM)’s stock price reached a new 52-week high during mid-day trading on Friday after HC Wainwright raised their price target on the stock from $190.00 to $200.00. HC Wainwright currently has a buy rating on the stock. Axsome Therapeutics traded as high as $134.74 and last traded at $135.28, with a volume of 363841 shares. The stock had previously closed at $129.10.

Several other research firms have also issued reports on AXSM. Wells Fargo & Company raised their price target on Axsome Therapeutics from $140.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Mizuho lifted their target price on Axsome Therapeutics from $137.00 to $195.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Leerink Partners lifted their target price on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Robert W. Baird lifted 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $153.00 target price on shares of Axsome Therapeutics in a report on Wednesday. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $158.79.

Insider Activity

In related news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the sale, the chief financial officer now owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of AXSM. Boxer Capital Management LLC acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at about $39,767,000. Lazard Asset Management LLC increased its position in shares of Axsome Therapeutics by 525.7% in the fourth quarter. Lazard Asset Management LLC now owns 537,669 shares of the company’s stock valued at $45,492,000 after acquiring an additional 451,737 shares during the last quarter. Norges Bank acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at about $34,100,000. BVF Inc. IL increased its position in shares of Axsome Therapeutics by 32.7% in the fourth quarter. BVF Inc. IL now owns 1,388,064 shares of the company’s stock valued at $117,444,000 after acquiring an additional 342,064 shares during the last quarter. Finally, Iron Triangle Partners LP acquired a new stake in shares of Axsome Therapeutics in the third quarter valued at about $22,671,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Trading Up 6.7 %

The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.37. The business has a 50-day moving average of $101.29 and a 200-day moving average of $94.91. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of -23.00 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. The business had revenue of $118.77 million for the quarter, compared to the consensus estimate of $117.83 million. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. Research analysts anticipate that Axsome Therapeutics, Inc. will post -2.74 EPS for the current year.

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.