Axsome Therapeutics (NASDAQ:AXSM) Hits New 12-Month High on Analyst Upgrade

Axsome Therapeutics, Inc. (NASDAQ:AXSM)’s share price reached a new 52-week high on Tuesday after Wells Fargo & Company raised their price target on the stock from $140.00 to $160.00. Wells Fargo & Company currently has an overweight rating on the stock. Axsome Therapeutics traded as high as $132.25 and last traded at $127.08, with a volume of 4404595 shares traded. The stock had previously closed at $105.76.

A number of other research analysts also recently commented on AXSM. HC Wainwright reaffirmed a “buy” rating and set a $190.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday. Leerink Partners boosted their price objective on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft began coverage on shares of Axsome Therapeutics in a research report on Tuesday. They set a “buy” rating and a $176.00 price objective on the stock. Robert W. Baird boosted their price objective on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Mizuho boosted their price objective on shares of Axsome Therapeutics from $137.00 to $195.00 and gave the company an “outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $147.13.

Institutional Trading of Axsome Therapeutics

Several large investors have recently added to or reduced their stakes in AXSM. Creative Planning lifted its stake in shares of Axsome Therapeutics by 29.8% in the third quarter. Creative Planning now owns 10,854 shares of the company’s stock worth $975,000 after buying an additional 2,489 shares during the last quarter. Values First Advisors Inc. acquired a new stake in shares of Axsome Therapeutics in the third quarter worth $568,000. Mirae Asset Global Investments Co. Ltd. lifted its stake 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. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Axsome Therapeutics by 4.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,808 shares of the company’s stock worth $1,780,000 after buying an additional 754 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Axsome Therapeutics by 65.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,232 shares of the company’s stock worth $830,000 after buying an additional 3,652 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

Axsome Therapeutics Price Performance

The stock’s 50 day moving average price is $96.55 and its two-hundred day moving average price is $92.67. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of -20.15 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.38) by $0.04. The firm had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same period in the prior year, the company earned ($1.32) EPS. On average, equities research analysts anticipate that Axsome Therapeutics, Inc. will post -4.7 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.