Axsome Therapeutics (NASDAQ:AXSM) Hits New 12-Month High – What’s Next?

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) hit a new 52-week high during trading on Thursday . The stock traded as high as $107.09 and last traded at $106.08, with a volume of 42117 shares. The stock had previously closed at $105.14.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $139.00 target price on shares of Axsome Therapeutics in a research report on Wednesday. Robert W. Baird lifted 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. Cantor Fitzgerald reissued an “overweight” rating and set a $121.00 price objective on shares of Axsome Therapeutics in a report on Thursday, December 12th. Needham & Company LLC restated a “buy” rating and set a $133.00 target price on shares of Axsome Therapeutics in a research report on Monday, January 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, January 21st. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.31.

Axsome Therapeutics Trading Up 2.5 %

The firm has a fifty day moving average price of $93.20 and a 200-day moving average price of $90.52. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of -16.50 and a beta of 1.04. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.38) by $0.04. The business had revenue of $104.76 million for 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 last year, the firm posted ($1.32) earnings per share. As a group, equities analysts anticipate that Axsome Therapeutics, Inc. will post -4.73 EPS for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

A number of hedge funds have recently made changes to their positions in AXSM. Strategic Financial Concepts LLC bought a new stake in Axsome Therapeutics in the fourth quarter worth approximately $2,599,000. Lion Street Advisors LLC raised its stake in shares of Axsome Therapeutics by 16.3% in the fourth quarter. Lion Street Advisors LLC now owns 9,599 shares of the company’s stock valued at $812,000 after buying an additional 1,344 shares during the period. Calamos Advisors LLC bought a new stake in shares of Axsome Therapeutics in the fourth quarter valued at $1,084,000. abrdn plc raised its stake in shares of Axsome Therapeutics by 553.3% during the 4th quarter. abrdn plc now owns 72,179 shares of the company’s stock valued at $6,107,000 after purchasing an additional 61,131 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its position in Axsome Therapeutics by 11.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,276 shares of the company’s stock worth $869,000 after buying an additional 1,044 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors.

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.