Axsome Therapeutics (NASDAQ:AXSM) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $139.00 price objective on the stock.

Several other equities analysts have also commented on AXSM. Needham & Company LLC reaffirmed a “buy” rating and set a $133.00 target price on shares of Axsome Therapeutics in a report on Monday, January 13th. Mizuho reduced their price objective on Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 31st. HC Wainwright reissued a “buy” rating and issued a $180.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, January 21st. William Blair restated an “outperform” rating on shares of Axsome Therapeutics in a research report on Friday, January 24th. Finally, Truist Financial boosted their price objective on Axsome Therapeutics from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.31.

Axsome Therapeutics Stock Up 2.6 %

Shares of NASDAQ AXSM opened at $105.14 on Wednesday. The business has a 50-day moving average of $93.20 and a 200-day moving average of $90.52. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of -16.10 and a beta of 1.04. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $105.64.

Axsome Therapeutics (NASDAQ:AXSM) last released 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 net margin of 91.87% and a negative return on equity of 158.36%. The business had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. During the same quarter in the previous year, the company earned ($1.32) EPS. Sell-side analysts expect that Axsome Therapeutics will post -4.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Axsome Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of AXSM. FMR LLC raised its stake in Axsome Therapeutics by 20.6% in the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after buying an additional 185,951 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Axsome Therapeutics by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 908,459 shares of the company’s stock worth $81,659,000 after acquiring an additional 23,564 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Axsome Therapeutics by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock worth $66,750,000 after acquiring an additional 8,125 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Axsome Therapeutics by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 322,596 shares of the company’s stock valued at $28,992,000 after purchasing an additional 12,778 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in Axsome Therapeutics by 11.0% in the third quarter. Loomis Sayles & Co. L P now owns 298,586 shares of the company’s stock worth $26,834,000 after purchasing an additional 29,497 shares during the period. 81.49% of the stock is 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.