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

HC Wainwright reiterated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a report published on Monday,Benzinga reports. They currently have a $180.00 target price on the stock. HC Wainwright also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($0.94) EPS, FY2024 earnings at ($4.60) EPS, Q1 2025 earnings at ($0.81) EPS, Q2 2025 earnings at ($0.44) EPS, Q3 2025 earnings at $0.03 EPS, Q4 2025 earnings at $0.79 EPS and FY2025 earnings at ($0.41) EPS.

A number of other analysts have also weighed in on the stock. Royal Bank of Canada raised their price target on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Robert W. Baird upped 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. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $95.00 to $106.00 in a research report on Tuesday, August 6th. Finally, Wells Fargo & Company initiated coverage on shares of Axsome Therapeutics in a research report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective for the company. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.93.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM opened at $99.65 on Monday. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of -14.86 and a beta of 1.26. The business has a fifty day simple moving average of $91.21 and a 200 day simple moving average of $85.47. Axsome Therapeutics has a 1 year low of $64.11 and a 1 year high of $105.00. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. The firm had revenue of $104.76 million for the quarter, compared to analyst estimates 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 quarter last year, the firm posted ($1.32) EPS. As a group, sell-side analysts predict that Axsome Therapeutics will post -4.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In related news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the sale, the director now owns 10,002 shares in the company, valued at approximately $913,282.62. This represents a 52.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. grew its holdings in shares of Axsome Therapeutics by 47.5% in the third quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock valued at $13,713,000 after purchasing an additional 51,696 shares in the last quarter. Geode Capital Management LLC raised its position in 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 purchasing an additional 23,564 shares during the period. Barclays PLC raised its holdings in shares of Axsome Therapeutics by 279.6% in the third quarter. Barclays PLC now owns 61,785 shares of the company’s stock worth $5,552,000 after buying an additional 45,509 shares during the period. Wellington Management Group LLP lifted its position in shares of Axsome Therapeutics by 1.1% during the third quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock worth $66,750,000 after purchasing an additional 8,125 shares during the last quarter. Finally, Iron Triangle Partners LP purchased a new stake in Axsome Therapeutics in the 3rd quarter valued at about $22,671,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

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.