Axsome Therapeutics, Inc. (NASDAQ:AXSM) Short Interest Update

Axsome Therapeutics, Inc. (NASDAQ:AXSM) saw a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 5,750,000 shares, a decrease of 13.1% from the December 31st total of 6,620,000 shares. Based on an average daily trading volume, of 691,000 shares, the days-to-cover ratio is currently 8.3 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Mizuho upped their target price on shares of Axsome Therapeutics from $122.00 to $137.00 and gave the company an “outperform” rating in a research note on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $133.00 target price on shares of Axsome Therapeutics in a report on Monday, January 13th. Truist Financial boosted their price target on Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a report on Monday. William Blair restated an “outperform” rating on shares of Axsome Therapeutics in a research note on Friday, January 24th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $121.00 price objective on shares of Axsome Therapeutics in a report on Thursday, December 12th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $134.00.

Axsome Therapeutics Stock Performance

Shares of AXSM traded up $2.21 during mid-day trading on Monday, reaching $108.67. 490,510 shares of the company’s stock traded hands, compared to its average volume of 963,978. 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 business’s 50-day moving average price is $93.57 and its 200-day moving average price is $90.90. The stock has a market capitalization of $5.27 billion, a P/E ratio of -16.64 and a beta of 1.05. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $111.51.

Axsome Therapeutics (NASDAQ:AXSM) last announced 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. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The firm had revenue of $104.76 million for the quarter, compared to the consensus estimate of $98.71 million. During the same quarter in the previous year, the business earned ($1.32) EPS. Equities analysts predict that Axsome Therapeutics will post -4.72 earnings per share for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Axsome Therapeutics in the 2nd quarter worth approximately $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Axsome Therapeutics in the second quarter worth approximately $47,000. R Squared Ltd acquired a new stake in Axsome Therapeutics in the fourth quarter worth approximately $64,000. KBC Group NV boosted its stake in Axsome Therapeutics by 40.5% during the 4th quarter. KBC Group NV now owns 1,336 shares of the company’s stock valued at $113,000 after purchasing an additional 385 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 purchasing an additional 318 shares during the period. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

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.