Axsome Therapeutics’ (AXSM) Buy Rating Reaffirmed at HC Wainwright

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They currently have a $190.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 49.51% from the company’s current price.

AXSM has been the subject of a number of other reports. Truist Financial raised their target price on Axsome Therapeutics from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft started coverage on shares of Axsome Therapeutics in a research report on Tuesday. They set a “buy” rating and a $176.00 price objective for the company. William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a report on Friday, January 24th. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $133.00 price objective on shares of Axsome Therapeutics in a report on Monday. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $141.73.

Axsome Therapeutics Stock Up 20.2 %

AXSM stock opened at $127.08 on Tuesday. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The firm has a 50-day moving average of $94.72 and a two-hundred day moving average of $91.78. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $132.25. The company has a market cap of $6.16 billion, a price-to-earnings ratio of -19.46 and a beta of 1.05.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) EPS 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 during the quarter, compared to analysts’ expectations of $98.71 million. During the same quarter last year, the firm earned ($1.32) earnings per share. As a group, analysts forecast that Axsome Therapeutics will post -4.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds have recently bought and sold shares of the company. Iron Triangle Partners LP acquired a new position in Axsome Therapeutics during the 3rd quarter worth $22,671,000. Principal Financial Group Inc. grew its position in shares of Axsome Therapeutics by 6,002.7% during the fourth quarter. Principal Financial Group Inc. now owns 207,065 shares of the company’s stock worth $17,520,000 after buying an additional 203,672 shares in the last quarter. FMR LLC grew its position in shares of Axsome Therapeutics by 20.6% during the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after buying an additional 185,951 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Axsome Therapeutics during the fourth quarter worth approximately $14,771,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Axsome Therapeutics in the fourth quarter valued at approximately $6,219,000. 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.