Axsome Therapeutics (NASDAQ:AXSM) Receives Outperform Rating from William Blair

William Blair reissued their outperform rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a report released on Friday,RTT News reports.

A number of other research firms have also recently weighed in on AXSM. Mizuho lowered their price target on shares of Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 31st. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Robert W. Baird upped their price target 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. Royal Bank of Canada upped their price target on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Truist Financial upped their price target on shares of Axsome Therapeutics from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $130.69.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $103.11 on Friday. 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 stock has a market capitalization of $5.00 billion, a P/E ratio of -15.79 and a beta of 1.04. The company’s fifty day moving average is $92.64 and its two-hundred day moving average is $90.03. Axsome Therapeutics has a 1 year low of $64.11 and a 1 year high of $105.00.

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 net margin of 91.87% and a negative return on equity of 158.36%. The company had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $98.71 million. During the same period in the previous year, the company posted ($1.32) EPS. On average, sell-side analysts predict that Axsome Therapeutics will post -4.73 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in Axsome Therapeutics by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock valued at $19,062,000 after purchasing an additional 27,534 shares in the last quarter. PDT Partners LLC purchased a new position in Axsome Therapeutics in the 3rd quarter valued at about $1,052,000. Pallas Capital Advisors LLC purchased a new position in Axsome Therapeutics in the 4th quarter valued at about $2,237,000. Captrust Financial Advisors purchased a new position in shares of Axsome Therapeutics during the 3rd quarter worth about $514,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Axsome Therapeutics by 71.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,733 shares of the company’s stock worth $1,234,000 after acquiring an additional 5,737 shares during the period. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

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.