Axsome Therapeutics’ (AXSM) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research report report published on Thursday,Benzinga reports. They currently have a $121.00 price objective on the stock.

Several other brokerages also recently issued reports on AXSM. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. HC Wainwright reissued a “buy” rating and issued a $180.00 target price on shares of Axsome Therapeutics in a report on Monday, November 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price target on shares of Axsome Therapeutics in a report on Tuesday, November 12th. Wells Fargo & Company assumed coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective on the stock. Finally, Robert W. Baird lifted their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $125.93.

Axsome Therapeutics Stock Down 4.5 %

NASDAQ AXSM opened at $90.10 on Thursday. 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. The stock’s 50 day moving average is $93.02 and its two-hundred day moving average is $87.39. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of -13.80 and a beta of 1.18.

Axsome Therapeutics (NASDAQ:AXSM) last announced 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 business had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. During the same quarter in the previous year, the firm earned ($1.32) EPS. Equities analysts forecast that Axsome Therapeutics will post -4.6 earnings per share for the current fiscal year.

Institutional Trading of Axsome Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of Axsome Therapeutics in the 2nd quarter valued at about $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Axsome Therapeutics in the second quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Axsome Therapeutics by 22.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after acquiring an additional 318 shares during the last quarter. Moors & Cabot Inc. acquired a new stake in Axsome Therapeutics during the 3rd quarter worth $200,000. Finally, Whalen Wealth Management Inc. bought a new stake in shares of Axsome Therapeutics during the 3rd quarter valued at $236,000. 81.49% of the stock is owned by 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.