Axsome Therapeutics, Inc. (NASDAQ:AXSM) Given Consensus Rating of “Buy” by Brokerages

Axsome Therapeutics, Inc. (NASDAQ:AXSM) has been given a consensus rating of “Buy” by the thirteen analysts that are presently covering the firm, MarketBeat reports. Thirteen research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $130.69.

Several analysts have recently commented on the stock. Mizuho lowered their price target on shares of Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 31st. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Royal Bank of Canada upped their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Needham & Company LLC reiterated a “buy” rating and set a $133.00 price objective on shares of Axsome Therapeutics in a research report on Monday, January 13th. Finally, Robert W. Baird boosted their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th.

Axsome Therapeutics Stock Performance

AXSM opened at $96.18 on Wednesday. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $105.00. The stock has a market cap of $4.66 billion, a P/E ratio of -14.73 and a beta of 1.04. The stock’s 50 day simple moving average is $92.29 and its 200 day simple moving average is $89.61. 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 (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share 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 business had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. During the same quarter last year, the business posted ($1.32) earnings per share. As a group, equities analysts anticipate that Axsome Therapeutics will post -4.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in Axsome Therapeutics by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock worth $19,062,000 after acquiring an additional 27,534 shares during the last quarter. PDT Partners LLC purchased a new stake in shares of Axsome Therapeutics during the 3rd quarter worth about $1,052,000. Pallas Capital Advisors LLC acquired a new stake in Axsome Therapeutics during the 4th quarter worth approximately $2,237,000. Captrust Financial Advisors purchased a new position in Axsome Therapeutics in the third quarter valued at approximately $514,000. Finally, BNP Paribas Financial Markets raised its holdings in Axsome Therapeutics by 71.7% in the third quarter. BNP Paribas Financial Markets now owns 13,733 shares of the company’s stock valued at $1,234,000 after buying an additional 5,737 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

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.