Axsome Therapeutics (NASDAQ:AXSM) Hits New 52-Week High on Analyst Upgrade

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) hit a new 52-week high on Friday after HC Wainwright raised their price target on the stock from $190.00 to $200.00. HC Wainwright currently has a buy rating on the stock. Axsome Therapeutics traded as high as $134.74 and last traded at $135.28, with a volume of 363841 shares changing hands. The stock had previously closed at $129.10.

Several other equities research analysts have also recently weighed in on AXSM. Wells Fargo & Company increased their target price on Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Robert W. Baird boosted their price objective on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Truist Financial raised their target price on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday. Mizuho raised their price objective on shares of Axsome Therapeutics from $137.00 to $195.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Finally, William Blair reissued an “outperform” rating on shares of Axsome Therapeutics in a research report on Tuesday. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $155.47.

Insider Buying and Selling

In related news, CFO Nick Pizzie sold 3,000 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the transaction, the chief financial officer now owns 42,187 shares in the company, valued at $5,529,450.09. The trade was a 6.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 22.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in AXSM. Raiffeisen Bank International AG purchased a new position in shares of Axsome Therapeutics in the fourth quarter worth approximately $51,000. Assetmark Inc. purchased a new position in shares of Axsome Therapeutics in the fourth quarter worth approximately $52,000. R Squared Ltd purchased a new position in shares of Axsome Therapeutics in the fourth quarter worth approximately $64,000. Aquatic Capital Management LLC purchased a new position in shares of Axsome Therapeutics in the fourth quarter worth approximately $76,000. Finally, GF Fund Management CO. LTD. bought a new stake in Axsome Therapeutics during the 4th quarter worth approximately $86,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Stock Performance

The company has a market cap of $6.66 billion, a P/E ratio of -22.66 and a beta of 1.05. The business’s 50 day simple moving average is $100.34 and its 200 day simple moving average is $94.46. The company has a current ratio of 2.11, a quick ratio of 2.37 and a debt-to-equity ratio of 3.22.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The company had revenue of $118.77 million for the quarter, compared to analysts’ expectations of $117.83 million. Sell-side analysts predict that Axsome Therapeutics, Inc. will post -2.26 earnings per share for the current fiscal year.

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.