Axsome Therapeutics, Inc. (NASDAQ:AXSM) Sees Significant Decrease in Short Interest

Axsome Therapeutics, Inc. (NASDAQ:AXSM) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 4,910,000 shares, a drop of 14.0% from the February 28th total of 5,710,000 shares. Based on an average trading volume of 938,000 shares, the short-interest ratio is presently 5.2 days. Currently, 13.0% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on Axsome Therapeutics from $143.00 to $192.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Truist Financial increased their price objective on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Bank of America boosted their target price on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Robert W. Baird increased their target price on shares of Axsome Therapeutics from $132.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Finally, HC Wainwright restated a “buy” rating and issued a $200.00 price target on shares of Axsome Therapeutics in a research report on Thursday, March 6th. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $167.64.

Axsome Therapeutics Stock Down 1.7 %

Shares of AXSM opened at $109.75 on Thursday. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of -18.32 and a beta of 1.00. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $139.13. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. The business’s fifty day moving average price is $120.62 and its two-hundred day moving average price is $101.58.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.01. The business had revenue of $118.77 million for the quarter, compared to analysts’ expectations of $117.83 million. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. On average, analysts predict that Axsome Therapeutics will post -2.79 earnings per share for the current year.

Insider Transactions at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the transaction, the chief financial officer now owns 42,187 shares of the company’s stock, valued at $5,529,450.09. This represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 22.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of AXSM. Pitcairn Co. lifted its stake in Axsome Therapeutics by 3.4% in the fourth quarter. Pitcairn Co. now owns 4,562 shares of the company’s stock valued at $386,000 after buying an additional 148 shares during the period. Meridian Wealth Management LLC increased its stake in shares of Axsome Therapeutics by 0.7% in the 4th quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company’s stock valued at $1,791,000 after acquiring an additional 150 shares during the last quarter. Summit Investment Advisors Inc. raised its position in shares of Axsome Therapeutics by 4.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company’s stock valued at $326,000 after acquiring an additional 162 shares during the period. Arizona State Retirement System boosted its stake in Axsome Therapeutics by 1.8% during the 4th quarter. Arizona State Retirement System now owns 9,054 shares of the company’s stock worth $766,000 after acquiring an additional 164 shares during the last quarter. Finally, Intrust Bank NA grew its holdings in Axsome Therapeutics by 6.9% during the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company’s stock valued at $239,000 after purchasing an additional 183 shares during the period. 81.49% of the stock is owned by institutional investors.

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.