Axsome Therapeutics (NASDAQ:AXSM) Sets New 1-Year High – What’s Next?

Axsome Therapeutics, Inc. (NASDAQ:AXSM) reached a new 52-week high on Wednesday . The company traded as high as $113.33 and last traded at $112.92, with a volume of 825311 shares trading hands. The stock had previously closed at $107.43.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AXSM shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $121.00 target price on shares of Axsome Therapeutics in a report on Thursday, December 12th. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Needham & Company LLC restated a “buy” rating and issued a $133.00 price objective on shares of Axsome Therapeutics in a research report on Monday, January 13th. Robert W. Baird boosted their price objective on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, HC Wainwright raised their target price on shares of Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Axsome Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $134.00.

Axsome Therapeutics Trading Down 3.9 %

The firm has a market capitalization of $5.31 billion, a P/E ratio of -16.77 and a beta of 1.05. 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 business has a 50 day moving average of $94.37 and a 200-day moving average of $91.43.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. During the same period in the previous year, the company posted ($1.32) earnings per share. Analysts anticipate that Axsome Therapeutics, Inc. will post -4.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Axsome Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Iron Triangle Partners LP acquired a new stake in shares of Axsome Therapeutics in the 3rd quarter valued at approximately $22,671,000. Principal Financial Group Inc. lifted its holdings in Axsome Therapeutics by 6,002.7% during the 4th quarter. Principal Financial Group Inc. now owns 207,065 shares of the company’s stock worth $17,520,000 after purchasing an additional 203,672 shares during the last quarter. FMR LLC boosted its position in shares of Axsome Therapeutics by 20.6% in the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after acquiring an additional 185,951 shares during the period. Raymond James Financial Inc. acquired a new stake in Axsome Therapeutics in the 4th quarter worth about $14,771,000. Finally, abrdn plc raised its position in shares of Axsome Therapeutics by 553.3% in the fourth quarter. abrdn plc now owns 72,179 shares of the company’s stock valued at $6,107,000 after buying an additional 61,131 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.