Short Interest in Axsome Therapeutics, Inc. (NASDAQ:AXSM) Decreases By 7.9%

Axsome Therapeutics, Inc. (NASDAQ:AXSM) was the target of a significant decline in short interest in December. As of December 15th, there was short interest totalling 6,520,000 shares, a decline of 7.9% from the November 30th total of 7,080,000 shares. Based on an average trading volume of 488,200 shares, the short-interest ratio is presently 13.4 days.

Analyst Ratings Changes

AXSM has been the subject of several recent analyst reports. Robert W. Baird raised 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. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Mizuho cut their price target on shares of Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating for the company in a report on Tuesday. Wells Fargo & Company began coverage on shares of Axsome Therapeutics in a report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price objective on the stock. Finally, Royal Bank of Canada lifted their price target on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.07.

Axsome Therapeutics Price Performance

Shares of AXSM traded down $0.09 during trading hours on Tuesday, reaching $84.69. 912,433 shares of the company traded hands, compared to its average volume of 621,902. The stock has a market capitalization of $4.10 billion, a PE ratio of -12.97 and a beta of 1.18. The stock has a fifty day simple moving average of $93.26 and a 200 day simple moving average of $88.67. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $105.00. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping 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 business had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. During the same period in the previous year, the firm posted ($1.32) earnings per share. As a group, research analysts predict that Axsome Therapeutics will post -4.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. acquired a new position in Axsome Therapeutics in the second quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Axsome Therapeutics in the 2nd quarter worth about $47,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of 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 purchasing an additional 318 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Axsome Therapeutics during the 3rd quarter worth about $200,000. Finally, Whalen Wealth Management Inc. acquired a new stake in Axsome Therapeutics during the 3rd quarter worth approximately $236,000. 81.49% of the stock is 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.