HC Wainwright Reiterates Buy Rating for Axsome Therapeutics (NASDAQ:AXSM)

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report issued on Tuesday,Benzinga reports.

AXSM has been the subject of a number of other research reports. Wells Fargo & Company began coverage on Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $121.00 price target on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Royal Bank of Canada raised their price target on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Needham & Company LLC reissued a “buy” rating and set a $130.00 target price on shares of Axsome Therapeutics in a research report on Monday. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $127.07.

Axsome Therapeutics Stock Performance

AXSM stock opened at $84.61 on Tuesday. Axsome Therapeutics has a twelve month low of $64.11 and a twelve month high of $105.00. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of -12.96 and a beta of 1.18. The business’s fifty day simple moving average is $92.95 and its two-hundred day simple moving average is $88.72. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, beating 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 company had revenue of $104.76 million during the quarter, compared to analyst estimates of $98.71 million. During the same quarter last year, the business posted ($1.32) EPS. Analysts predict that Axsome Therapeutics will post -4.6 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. acquired a new stake in Axsome Therapeutics in the second quarter worth about $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Axsome Therapeutics in the 2nd quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. grew its position in Axsome Therapeutics by 22.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after purchasing an additional 318 shares during the last quarter. Moors & Cabot Inc. acquired a new position in Axsome Therapeutics during the 3rd quarter valued at approximately $200,000. Finally, Whalen Wealth Management Inc. purchased a new position in shares of Axsome Therapeutics in the third quarter worth $236,000. 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.