Axsome Therapeutics (NASDAQ:AXSM) Stock Price Up 5.9% – What’s Next?

Axsome Therapeutics, Inc. (NASDAQ:AXSM)’s share price was up 5.9% on Tuesday. The company traded as high as $142.84 and last traded at $141.9250. 584,541 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 789,292 shares. The stock had previously closed at $133.96.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Guggenheim reduced their price objective on shares of Axsome Therapeutics from $275.00 to $250.00 and set a “buy” rating for the company in a report on Tuesday, November 3rd. BMO Capital Markets initiated coverage on shares of Axsome Therapeutics in a research report on Monday, July 20th. They set an “outperform” rating and a $310.00 target price for the company. Morgan Stanley upped their target price on shares of Axsome Therapeutics from $247.00 to $249.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 3rd. Deutsche Bank dropped their price target on shares of Axsome Therapeutics from $280.00 to $267.00 and set a “buy” rating on the stock in a research report on Tuesday, September 29th. Finally, Mizuho cut their price target on Axsome Therapeutics from $284.00 to $272.00 and set an “outperform” rating for the company in a research note on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $267.58.

Axsome Therapeutics Stock Performance

The company’s 50-day moving average is $174.09 and its two-hundred day moving average is $197.18. The company has a quick ratio of 1.34, a current ratio of 1.42 and a debt-to-equity ratio of 1.21. The company has a market cap of $7.60 billion, a P/E ratio of -47.25 and a beta of 0.86.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, November 2nd. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.38. Axsome Therapeutics had a negative net margin of 18.18% and a negative return on equity of 198.73%. The business had revenue of $259.69 million for the quarter, compared to analyst estimates of $249.19 million. During the same quarter in the previous year, the firm posted ($0.94) earnings per share. The company’s revenue for the quarter was up 51.9% on a year-over-year basis. Equities analysts predict that Axsome Therapeutics, Inc. will post -2.27 EPS for the current year.

Insider Activity at Axsome Therapeutics

In related news, COO Mark Jacobson sold 10,000 shares of Axsome Therapeutics stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $208.65, for a total value of $2,086,500.00. Following the sale, the chief operating officer owned 10,000 shares of the company’s stock, valued at approximately $2,086,500. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 20.60% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hollencrest Capital Management raised its stake in shares of Axsome Therapeutics by 400.0% in the first quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock valued at $34,000 after buying an additional 160 shares during the period. ABS Investment Management LLC bought a new position in shares of Axsome Therapeutics during the 2nd quarter worth $171,339,000. ABS Direct Equity Fund LLC purchased a new stake in Axsome Therapeutics in the 2nd quarter worth about $60,000. Jacobi Capital Management LLC purchased a new stake in Axsome Therapeutics in the 3rd quarter worth about $47,000. Finally, Silvant Capital Management LLC purchased a new stake in Axsome Therapeutics in the 2nd quarter worth about $66,000. 81.49% of the stock is owned by institutional investors.

Axsome Therapeutics Company Profile

Axsome Therapeutics is a biopharmaceutical company focused on developing and commercializing treatments for central nervous system disorders. The company is headquartered in New York and is led by founder, chairman and chief executive officer Herriot Tabuteau. Its marketed products include Auvelity, an oral treatment for major depressive disorder in adults, and Sunosi, which is used to improve wakefulness in adults with excessive daytime sleepiness associated with narcolepsy or obstructive sleep apnea.