Axsome Therapeutics (NASDAQ:AXSM) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research note released on Tuesday,Benzinga reports. HC Wainwright currently has a $180.00 price objective on the stock.

AXSM has been the subject of a number of other reports. Robert W. Baird lifted their price objective on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald restated an “overweight” rating and set a $121.00 target price on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Mizuho cut 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 report on Tuesday, December 31st. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Royal Bank of Canada lifted their price target on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Axsome Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $130.69.

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock opened at $96.18 on Tuesday. The company has a market cap of $4.66 billion, a PE ratio of -14.73 and a beta of 1.04. 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 has a 1 year low of $64.11 and a 1 year high of $105.00. The company’s 50-day moving average is $92.29 and its two-hundred day moving average is $89.61.

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 analysts’ consensus estimates 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 firm had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $98.71 million. During the same period last year, the firm earned ($1.32) earnings per share. Equities analysts anticipate that Axsome Therapeutics will post -4.7 earnings per share for the current year.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new position in Axsome Therapeutics during the second quarter worth approximately $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Axsome Therapeutics during the 2nd quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Axsome Therapeutics by 22.4% in the 3rd 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 period. Moors & Cabot Inc. acquired a new stake in Axsome Therapeutics during the 3rd quarter valued at $200,000. Finally, Whalen Wealth Management Inc. bought a new position in Axsome Therapeutics during the third quarter worth $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.