HC Wainwright Reiterates “Buy” Rating for Axsome Therapeutics (NASDAQ:AXSM)

HC Wainwright restated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a report released on Tuesday morning,Benzinga reports. The firm currently has a $190.00 price objective on the stock.

Several other analysts also recently issued reports on AXSM. Truist Financial increased their price target on Axsome Therapeutics from $180.00 to $190.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $139.00 price target on shares of Axsome Therapeutics in a report on Wednesday, January 29th. Robert W. Baird upped 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $121.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Finally, StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.13.

Axsome Therapeutics Stock Up 0.1 %

Shares of NASDAQ AXSM opened at $131.68 on Tuesday. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $134.18. The company has a market cap of $6.38 billion, a P/E ratio of -20.17 and a beta of 1.05. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The stock has a fifty day moving average price of $96.55 and a 200 day moving average price of $92.67.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. During the same period in the prior year, the firm earned ($1.32) EPS. Research analysts anticipate that Axsome Therapeutics will post -4.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Axsome Therapeutics

Several large investors have recently modified their holdings of AXSM. Creative Planning lifted its position in shares of Axsome Therapeutics by 29.8% during the third quarter. Creative Planning now owns 10,854 shares of the company’s stock worth $975,000 after purchasing an additional 2,489 shares during the last quarter. Values First Advisors Inc. bought a new position in shares of Axsome Therapeutics during the third quarter worth about $568,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Axsome Therapeutics by 22.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after purchasing an additional 318 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Axsome Therapeutics by 4.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,808 shares of the company’s stock worth $1,780,000 after acquiring an additional 754 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its stake in Axsome Therapeutics by 65.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,232 shares of the company’s stock worth $830,000 after acquiring an additional 3,652 shares during the period. 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.