Axsome Therapeutics’ (AXSM) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research note released on Monday,Benzinga reports. They currently have a $180.00 price target on the stock. HC Wainwright also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($0.94) EPS, FY2024 earnings at ($4.60) EPS, Q1 2025 earnings at ($0.81) EPS, Q2 2025 earnings at ($0.44) EPS, Q3 2025 earnings at $0.03 EPS, Q4 2025 earnings at $0.79 EPS and FY2025 earnings at ($0.41) EPS.

Several other equities analysts also recently weighed in on the stock. UBS Group reduced their target price on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. 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 report on Friday, October 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 price objective on shares of Axsome Therapeutics in a report on Monday, September 16th. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $95.00 to $106.00 in a research note on Tuesday, August 6th. Finally, Robert W. Baird upped their price objective 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. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $124.93.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $99.65 on Monday. The company has a market capitalization of $4.83 billion, a PE ratio of -15.26 and a beta of 1.26. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. Axsome Therapeutics has a 52-week low of $64.11 and a 52-week high of $105.00. The company has a 50-day simple moving average of $91.48 and a 200 day simple moving average of $85.67.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping 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 net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter last year, the business posted ($1.32) EPS. On average, research analysts predict that Axsome Therapeutics will post -4.75 EPS for the current year.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the transaction, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. This represents a 52.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Axsome Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Axsome Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock worth $298,474,000 after acquiring an additional 43,512 shares during the period. FMR LLC boosted its position in shares of Axsome Therapeutics by 20.6% during the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after purchasing an additional 185,951 shares in the last quarter. Geode Capital Management LLC grew its stake in Axsome Therapeutics by 2.7% in the third 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 period. Wellington Management Group LLP raised its holdings in Axsome Therapeutics by 1.1% in the third quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock worth $66,750,000 after purchasing an additional 8,125 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Axsome Therapeutics by 1.4% during the second quarter. Millennium Management LLC now owns 739,819 shares of the company’s stock valued at $59,555,000 after buying an additional 10,401 shares during the period. 81.49% of the stock is owned by 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.