HC Wainwright Reiterates “Buy” Rating for Axsome Therapeutics (NASDAQ:AXSM)

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a report released on Tuesday,Benzinga reports. They presently have a $190.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 44.43% from the company’s current price.

Several other research firms have also recently issued reports on AXSM. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Axsome Therapeutics in a research report on Tuesday. They issued a “buy” rating and a $176.00 price objective for the company. Robert W. Baird boosted their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. William Blair restated an “outperform” rating on shares of Axsome Therapeutics in a report on Friday, January 24th. Mizuho upped their target price on Axsome Therapeutics from $137.00 to $195.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $121.00 price target on shares of Axsome Therapeutics in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Axsome Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $147.13.

Axsome Therapeutics Price Performance

Shares of AXSM stock opened at $131.55 on Tuesday. The stock has a 50 day moving average price of $96.55 and a 200 day moving average price of $92.67. Axsome Therapeutics has a 52-week low of $64.11 and a 52-week high of $134.18. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The firm has a market capitalization of $6.37 billion, a P/E 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) earnings per share for the quarter, topping the consensus estimate of ($1.38) by $0.04. The business had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same period last year, the company earned ($1.32) earnings per share. As a group, sell-side analysts predict that Axsome Therapeutics will post -4.7 earnings per share for the current year.

Institutional Trading of Axsome Therapeutics

Institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in Axsome Therapeutics in the fourth quarter worth about $34,100,000. Iron Triangle Partners LP acquired a new position in shares of Axsome Therapeutics in the 3rd quarter valued at $22,671,000. Principal Financial Group Inc. lifted its position in Axsome Therapeutics by 6,002.7% during the 4th quarter. Principal Financial Group Inc. now owns 207,065 shares of the company’s stock worth $17,520,000 after acquiring an additional 203,672 shares during the period. FMR LLC grew its stake in Axsome Therapeutics by 20.6% during the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after purchasing an additional 185,951 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Axsome Therapeutics during the 4th quarter valued at about $14,771,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

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.