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

Axsome Therapeutics, Inc. (NASDAQ:AXSM) shares hit a new 52-week high during trading on Friday after HC Wainwright raised their price target on the stock from $190.00 to $200.00. HC Wainwright currently has a buy rating on the stock. Axsome Therapeutics traded as high as $134.74 and last traded at $135.28, with a volume of 363841 shares trading hands. The stock had previously closed at $129.10.

Several other research analysts also recently commented on the stock. Bank of America boosted their price objective on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft began coverage on shares of Axsome Therapeutics in a report on Tuesday, February 11th. They set a “buy” rating and a $176.00 price target for the company. Truist Financial upped their price target on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company upped their price target on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Leerink Partners upped their price target on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Axsome Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $157.64.

Insider Activity at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares in the company, 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 currently owned by company insiders.

Institutional Trading of Axsome Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Pitcairn Co. boosted its position in Axsome Therapeutics by 3.4% during the fourth quarter. Pitcairn Co. now owns 4,562 shares of the company’s stock valued at $386,000 after acquiring an additional 148 shares during the last quarter. Meridian Wealth Management LLC boosted its position in Axsome Therapeutics by 0.7% during the fourth 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. boosted its position in Axsome Therapeutics by 4.4% during the fourth 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 last quarter. Arizona State Retirement System boosted its position in Axsome Therapeutics by 1.8% during the fourth quarter. Arizona State Retirement System now owns 9,054 shares of the company’s stock valued at $766,000 after acquiring an additional 164 shares during the last quarter. Finally, Intrust Bank NA boosted its position 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 acquiring an additional 183 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Stock Up 6.7 %

The company has a quick ratio of 2.37, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. The firm has a market cap of $6.72 billion, a P/E ratio of -23.00 and a beta of 1.05. The stock’s 50-day simple moving average is $101.29 and its 200 day simple moving average is $94.84.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 74.47% and a negative return on equity of 223.51%. As a group, research analysts forecast that Axsome Therapeutics, Inc. will post -2.26 EPS for the current fiscal 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.