Axsome Therapeutics, Inc. (NASDAQ:AXSM) Short Interest Up 7.5% in June

Axsome Therapeutics, Inc. (NASDAQ:AXSM) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totalling 8,890,000 shares, an increase of 7.5% from the May 31st total of 8,270,000 shares. Based on an average daily volume of 665,900 shares, the short-interest ratio is presently 13.4 days.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AXSM. Mizuho reiterated a “buy” rating and issued a $106.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, June 12th. Citigroup dropped their target price on Axsome Therapeutics from $127.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Morgan Stanley upgraded Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $90.00 to $115.00 in a report on Monday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 price objective on shares of Axsome Therapeutics in a research note on Wednesday, April 10th. Finally, Robert W. Baird boosted their price objective on shares of Axsome Therapeutics from $108.00 to $112.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $122.08.

Insider Activity

In related news, COO Mark L. Jacobson sold 7,910 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total value of $587,792.10. Following the sale, the chief operating officer now directly owns 5,783 shares in the company, valued at $429,734.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO Mark L. Jacobson sold 7,910 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $74.31, for a total value of $587,792.10. Following the sale, the chief operating officer now owns 5,783 shares in the company, valued at $429,734.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Coleman sold 5,249 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $75.21, for a total transaction of $394,777.29. Following the sale, the director now directly owns 19,848 shares in the company, valued at approximately $1,492,768.08. The disclosure for this sale can be found here. Company insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Washington Trust Advisors Inc. purchased a new position in Axsome Therapeutics during the 4th quarter worth $26,000. EntryPoint Capital LLC bought a new position in shares of Axsome Therapeutics during the 1st quarter worth $35,000. Russell Investments Group Ltd. increased its stake in shares of Axsome Therapeutics by 5,550.0% during the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after buying an additional 777 shares during the period. Covestor Ltd raised its holdings in shares of Axsome Therapeutics by 54,750.0% in the first quarter. Covestor Ltd now owns 1,097 shares of the company’s stock valued at $88,000 after acquiring an additional 1,095 shares in the last quarter. Finally, Janiczek Wealth Management LLC purchased a new stake in Axsome Therapeutics in the first quarter worth about $97,000. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Stock Up 1.6 %

Shares of AXSM opened at $80.21 on Thursday. The firm has a fifty day moving average price of $75.48 and a 200-day moving average price of $78.88. The company has a current ratio of 3.20, a quick ratio of 3.09 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $3.81 billion, a P/E ratio of -12.57 and a beta of 1.26. Axsome Therapeutics has a 12-month low of $55.02 and a 12-month high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, May 6th. The company reported ($1.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.11. The company had revenue of $75.00 million during the quarter, compared to analyst estimates of $69.91 million. Axsome Therapeutics had a negative net margin of 118.07% and a negative return on equity of 87.17%. Equities research analysts expect that Axsome Therapeutics will post -4.7 earnings per share for the current year.

Axsome Therapeutics Company Profile

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.