Axsome Therapeutics (NASDAQ:AXSM) Reaches New 12-Month High – Here’s What Happened

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $105.00 and last traded at $103.85, with a volume of 466231 shares changing hands. The stock had previously closed at $103.89.

Analyst Ratings Changes

A number of equities analysts have recently commented on AXSM shares. Truist Financial raised their price target on Axsome Therapeutics from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Royal Bank of Canada raised their price objective on shares of 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 issued a $133.00 target price on shares of Axsome Therapeutics in a research note on Monday, January 13th. HC Wainwright restated a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a research report on Tuesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $121.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $130.69.

Axsome Therapeutics Stock Down 0.8 %

The stock has a market capitalization of $4.99 billion, a P/E ratio of -15.76 and a beta of 1.04. The stock has a 50 day moving average price of $92.32 and a 200-day moving average price of $89.80. 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) EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $98.71 million. During the same period in the previous year, the firm earned ($1.32) EPS. As a group, research analysts expect that Axsome Therapeutics, Inc. will post -4.73 EPS for the current fiscal year.

Institutional Trading of Axsome Therapeutics

Institutional investors have recently modified their holdings of the company. Iron Triangle Partners LP bought a new stake in shares of Axsome Therapeutics in the 3rd quarter worth approximately $22,671,000. FMR LLC increased its position in Axsome Therapeutics by 20.6% during the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after purchasing an additional 185,951 shares during the period. Franklin Resources Inc. raised its holdings in Axsome Therapeutics by 47.5% in the 3rd quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock worth $13,713,000 after purchasing an additional 51,696 shares in the last quarter. Barclays PLC lifted its position in shares of Axsome Therapeutics by 279.6% in the 3rd quarter. Barclays PLC now owns 61,785 shares of the company’s stock worth $5,552,000 after purchasing an additional 45,509 shares during the period. Finally, Point72 Europe London LLP bought a new stake in shares of Axsome Therapeutics during the 2nd quarter valued at about $2,475,000. 81.49% of the stock is currently owned by hedge funds and other 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.