Axsome Therapeutics’ (AXSM) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research report released on Tuesday,Benzinga reports.

A number of other analysts also recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $130.00 price objective on shares of Axsome Therapeutics in a research report on Monday. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Wells Fargo & Company assumed coverage on shares of Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective on the stock. Robert W. Baird lifted their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $121.00 target price on shares of Axsome Therapeutics in a research report on Thursday, December 12th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $127.07.

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock opened at $87.32 on Tuesday. The firm has a 50 day simple moving average of $92.92 and a 200-day simple moving average of $88.71. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of -13.37 and a beta of 1.18. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, topping the consensus estimate of ($1.38) by $0.04. The company had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same period in the prior year, the business posted ($1.32) earnings per share. On average, analysts expect that Axsome Therapeutics will post -4.6 EPS for the current year.

Institutional Investors Weigh In On Axsome Therapeutics

A number of hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Axsome Therapeutics during the 2nd quarter worth $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Axsome Therapeutics during the 2nd quarter worth about $47,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Axsome Therapeutics by 22.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after buying an additional 318 shares during the last quarter. Moors & Cabot Inc. acquired a new position in shares of Axsome Therapeutics during the 3rd quarter worth about $200,000. Finally, Whalen Wealth Management Inc. purchased a new position in shares of Axsome Therapeutics in the 3rd quarter valued at about $236,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

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.