Axsome Therapeutics (NASDAQ:AXSM) Shares Up 5.3% Following Analyst Upgrade

Axsome Therapeutics, Inc. (NASDAQ:AXSM)’s stock price traded up 5.3% during trading on Monday after Truist Financial raised their price target on the stock from $150.00 to $180.00. Truist Financial currently has a buy rating on the stock. Axsome Therapeutics traded as high as $84.36 and last traded at $84.29. 175,798 shares changed hands during trading, a decline of 77% from the average session volume of 772,864 shares. The stock had previously closed at $80.05.

AXSM has been the subject of several other reports. Mizuho reduced their target price on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating for the company in a research note on Tuesday, December 31st. HC Wainwright reaffirmed a “buy” rating on shares of Axsome Therapeutics in a report on Tuesday, December 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $121.00 target price on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $133.00 price target on shares of Axsome Therapeutics in a research note on Monday, January 6th. Finally, Robert W. Baird boosted their price objective on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $129.43.

Hedge Funds Weigh In On Axsome Therapeutics

Several large investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Axsome Therapeutics by 22.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after acquiring an additional 318 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Axsome Therapeutics in the second quarter valued at approximately $27,000. WCM Investment Management LLC grew its holdings in shares of Axsome Therapeutics by 0.3% in the third quarter. WCM Investment Management LLC now owns 113,692 shares of the company’s stock valued at $10,191,000 after purchasing an additional 347 shares in the last quarter. US Bancorp DE boosted its position in Axsome Therapeutics by 0.3% in the 3rd quarter. US Bancorp DE now owns 133,126 shares of the company’s stock valued at $11,964,000 after buying an additional 421 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Axsome Therapeutics in the second quarter worth $47,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Stock Down 5.2 %

The firm has a market cap of $4.10 billion, a PE ratio of -12.96 and a beta of 1.04. The business has a 50-day moving average price of $92.12 and a two-hundred day moving average price of $89.25. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The business had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. During the same quarter last year, the business posted ($1.32) EPS. On average, equities research analysts expect that Axsome Therapeutics, Inc. will post -4.6 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.