Axsome Therapeutics (NASDAQ:AXSM) Trading Down 4.8% – What’s Next?

Axsome Therapeutics, Inc. (NASDAQ:AXSM) shares traded down 4.8% during trading on Monday . The stock traded as low as $86.27 and last traded at $86.36. 211,169 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 609,253 shares. The stock had previously closed at $90.73.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AXSM. HC Wainwright restated a “buy” rating and set a $180.00 target price on shares of Axsome Therapeutics in a report on Monday, November 25th. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Robert W. Baird increased their target price 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 reiterated an “overweight” rating and set a $121.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, December 12th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $130.00 price target on shares of Axsome Therapeutics in a report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $125.93.

Axsome Therapeutics Trading Down 4.1 %

The stock has a fifty day moving average price of $93.65 and a 200 day moving average price of $88.07. The stock has a market cap of $4.22 billion, a PE ratio of -13.33 and a beta of 1.18. 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 posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share 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 company had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. During the same period in the prior year, the company posted ($1.32) EPS. Equities analysts expect that Axsome Therapeutics, Inc. will post -4.6 EPS for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in Axsome Therapeutics by 7.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 165,564 shares of the company’s stock worth $13,328,000 after buying an additional 11,793 shares during the period. Peregrine Capital Management LLC boosted its holdings in shares of Axsome Therapeutics by 1.4% in the second quarter. Peregrine Capital Management LLC now owns 87,373 shares of the company’s stock valued at $7,034,000 after purchasing an additional 1,238 shares during the period. Rhumbline Advisers grew its stake in Axsome Therapeutics by 5.1% in the second quarter. Rhumbline Advisers now owns 54,931 shares of the company’s stock worth $4,422,000 after purchasing an additional 2,674 shares in the last quarter. Arizona State Retirement System increased its holdings in Axsome Therapeutics by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock worth $695,000 after purchasing an additional 177 shares during the period. Finally, Torray Investment Partners LLC grew its position in shares of Axsome Therapeutics by 11.5% during the 2nd quarter. Torray Investment Partners LLC now owns 11,747 shares of the company’s stock worth $946,000 after buying an additional 1,209 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

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.