Axsome Therapeutics (NASDAQ:AXSM) Trading Up 4% – Still a Buy?

Axsome Therapeutics, Inc. (NASDAQ:AXSM) shares rose 4% during trading on Tuesday . The stock traded as high as $93.38 and last traded at $93.23. Approximately 33,518 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 608,318 shares. The stock had previously closed at $89.68.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, November 12th. HC Wainwright reaffirmed a “buy” rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research note on Monday, November 25th. Cantor Fitzgerald reissued an “overweight” rating and set a $121.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Royal Bank of Canada boosted their target price 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. Finally, Wells Fargo & Company assumed coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price target for the company. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $125.93.

Axsome Therapeutics Trading Down 3.0 %

The stock has a market cap of $4.39 billion, a PE ratio of -13.89 and a beta of 1.18. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The stock’s fifty day moving average price is $93.45 and its 200 day moving average price is $87.74.

Axsome Therapeutics (NASDAQ:AXSM) last issued its 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 the consensus estimate of $98.71 million. During the same period last year, the business posted ($1.32) EPS. On average, sell-side analysts forecast that Axsome Therapeutics, Inc. will post -4.6 EPS for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of AXSM. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Axsome Therapeutics during the 2nd quarter valued at about $27,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Axsome Therapeutics during the second quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Axsome Therapeutics by 22.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after buying an additional 318 shares during the last quarter. Moors & Cabot Inc. purchased a new position in shares of 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. Institutional investors own 81.49% of the company’s stock.

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.