Axsome Therapeutics (NASDAQ:AXSM) Stock Price Up 4% – Still a Buy?

Axsome Therapeutics, Inc. (NASDAQ:AXSMGet Free Report)’s stock price was up 4% during mid-day trading on Tuesday . The stock traded as high as $93.38 and last traded at $93.23. Approximately 33,518 shares traded hands during trading, a decline of 94% from the average daily volume of 608,318 shares. The stock had previously closed at $89.68.

Analysts Set New Price Targets

A number of research analysts recently commented on AXSM shares. Royal Bank of Canada boosted their price target on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. HC Wainwright reiterated a “buy” rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research report on Monday, November 25th. Cantor Fitzgerald restated an “overweight” rating and set a $121.00 target price on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, November 12th. Finally, StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. 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, Axsome Therapeutics has an average rating of “Moderate Buy” and an average target price of $125.93.

Read Our Latest Stock Analysis on AXSM

Axsome Therapeutics Price Performance

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 firm’s 50-day moving average price is $93.45 and its 200-day moving average price is $87.74. The stock has a market capitalization of $4.39 billion, a PE ratio of -13.89 and a beta of 1.18.

Axsome Therapeutics (NASDAQ:AXSMGet Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. The business had revenue of $104.76 million for the quarter, compared to the consensus estimate of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same period in the prior year, the business posted ($1.32) earnings per share. On average, equities analysts forecast that Axsome Therapeutics, Inc. will post -4.6 EPS for the current fiscal year.

Institutional Trading of Axsome Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. purchased a new stake in Axsome Therapeutics in the 2nd quarter worth about $27,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Axsome Therapeutics during the second quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Axsome Therapeutics by 22.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after buying an additional 318 shares during the period. Moors & Cabot Inc. bought a new stake in shares of Axsome Therapeutics during the 3rd quarter worth approximately $200,000. Finally, Whalen Wealth Management Inc. purchased a new position in Axsome Therapeutics during the 3rd quarter valued at $236,000. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Company Profile

(Get Free Report)

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.

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