Axsome Therapeutics (NASDAQ:AXSM) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research report report published on Tuesday morning,Benzinga reports.

AXSM has been the subject of several other reports. Needham & Company LLC reissued a “buy” rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a report on Monday. Wells Fargo & Company initiated coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price target for the company. Royal Bank of Canada lifted their price objective on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Robert W. Baird increased their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $121.00 price target on shares of Axsome Therapeutics in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $127.07.

Axsome Therapeutics Price Performance

Shares of AXSM opened at $87.32 on Tuesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $105.00. The stock has a market cap of $4.23 billion, a PE ratio of -13.37 and a beta of 1.18. The firm has a fifty day moving average price of $92.92 and a 200 day moving average price of $88.71.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating 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 in the previous year, the business earned ($1.32) EPS. As a group, sell-side analysts anticipate that Axsome Therapeutics will post -4.6 EPS for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in Axsome Therapeutics by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock worth $19,062,000 after buying an additional 27,534 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Axsome Therapeutics by 47.5% during the 3rd quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock worth $13,713,000 after acquiring an additional 51,696 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Axsome Therapeutics by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 908,459 shares of the company’s stock worth $81,659,000 after acquiring an additional 23,564 shares during the period. Barclays PLC grew its holdings in shares of Axsome Therapeutics by 279.6% in the 3rd quarter. Barclays PLC now owns 61,785 shares of the company’s stock worth $5,552,000 after acquiring an additional 45,509 shares during the period. Finally, Wellington Management Group LLP increased its stake in Axsome Therapeutics by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock valued at $66,750,000 after purchasing an additional 8,125 shares in the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

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.