Axsome Therapeutics (NASDAQ:AXSM) Sets New 12-Month High Following Analyst Upgrade

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) hit a new 52-week high during trading on Friday after HC Wainwright raised their price target on the stock from $190.00 to $200.00. HC Wainwright currently has a buy rating on the stock. Axsome Therapeutics traded as high as $134.74 and last traded at $135.28, with a volume of 363841 shares traded. The stock had previously closed at $129.10.

Other equities analysts have also recently issued reports about the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $153.00 target price on shares of Axsome Therapeutics in a report on Wednesday. Wells Fargo & Company increased their target price on Axsome Therapeutics from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft assumed coverage on Axsome Therapeutics in a report on Tuesday, February 11th. They issued a “buy” rating and a $176.00 target price for the company. William Blair reissued an “outperform” rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Finally, Robert W. Baird increased their target price on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $158.79.

Insider Activity at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in AXSM. Boxer Capital Management LLC acquired a new stake in shares of Axsome Therapeutics in the 4th quarter valued at $39,767,000. Lazard Asset Management LLC increased its stake in shares of Axsome Therapeutics by 525.7% in the 4th quarter. Lazard Asset Management LLC now owns 537,669 shares of the company’s stock valued at $45,492,000 after buying an additional 451,737 shares during the period. Norges Bank acquired a new stake in shares of Axsome Therapeutics in the 4th quarter valued at $34,100,000. BVF Inc. IL increased its stake in shares of Axsome Therapeutics by 32.7% in the 4th quarter. BVF Inc. IL now owns 1,388,064 shares of the company’s stock valued at $117,444,000 after buying an additional 342,064 shares during the period. Finally, Iron Triangle Partners LP acquired a new stake in shares of Axsome Therapeutics in the 3rd quarter valued at $22,671,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Axsome Therapeutics Price Performance

The company has a 50 day moving average price of $101.29 and a 200 day moving average price of $94.91. The company has a market capitalization of $6.72 billion, a price-to-earnings ratio of -23.00 and a beta of 1.05. The company has a current ratio of 2.11, a quick ratio of 2.37 and a debt-to-equity ratio of 3.22.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. The business had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. As a group, equities research analysts forecast that Axsome Therapeutics, Inc. will post -2.74 earnings per share for the current year.

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.