Axsome Therapeutics, Inc. (NASDAQ:AXSM) Short Interest Down 7.9% in December

Axsome Therapeutics, Inc. (NASDAQ:AXSM) was the recipient of a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 6,520,000 shares, a decrease of 7.9% from the November 30th total of 7,080,000 shares. Based on an average daily volume of 488,200 shares, the short-interest ratio is currently 13.4 days.

Hedge Funds Weigh In On Axsome Therapeutics

Several institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in Axsome Therapeutics by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock valued at $19,062,000 after buying an additional 27,534 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of 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 during the last quarter. Geode Capital Management LLC grew its stake 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 purchasing an additional 23,564 shares during the last quarter. Barclays PLC raised its holdings 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 in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Axsome Therapeutics by 1.1% during the third quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock valued at $66,750,000 after purchasing an additional 8,125 shares during the last quarter. Institutional investors own 81.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank of Canada raised their target price on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company assumed coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price objective on the stock. Robert W. Baird upped their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price target on shares of Axsome Therapeutics in a report on Monday. Finally, Mizuho cut their price objective on shares of Axsome Therapeutics from $124.00 to $122.00 and set an “outperform” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $127.07.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM traded down $0.09 during trading on Tuesday, reaching $84.69. 912,433 shares of the company’s stock traded hands, compared to its average volume of 621,902. The stock has a market capitalization of $4.10 billion, a P/E ratio of -12.97 and a beta of 1.18. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $105.00. The company has a 50 day moving average of $93.26 and a 200-day moving average of $88.67. 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 posted its earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.38) by $0.04. The company had revenue of $104.76 million during the quarter, compared to analyst estimates 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 company earned ($1.32) earnings per share. On average, equities analysts expect that Axsome Therapeutics will post -4.6 EPS for the current year.

Axsome Therapeutics Company Profile

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.