Axsome Therapeutics (NASDAQ:AXSM) Trading Down 4.8% – Should You Sell?

Axsome Therapeutics, Inc. (NASDAQ:AXSM)’s share price fell 4.8% during mid-day trading on Monday . The stock traded as low as $86.27 and last traded at $86.36. 211,169 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 609,253 shares. The stock had previously closed at $90.73.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $121.00 target price on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Royal Bank of Canada lifted their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, November 12th. Robert W. Baird lifted their price objective on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, HC Wainwright restated a “buy” rating and set a $180.00 target price on shares of Axsome Therapeutics in a report on Monday, November 25th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $125.93.

Axsome Therapeutics Stock 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 stock has a 50 day moving average price of $93.68 and a two-hundred day moving average price of $88.16. The company has a market cap of $4.22 billion, a price-to-earnings ratio of -13.32 and a beta of 1.18.

Axsome Therapeutics (NASDAQ:AXSM) 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. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The firm had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. During the same quarter in the previous year, the company earned ($1.32) earnings per share. Analysts predict that Axsome Therapeutics, Inc. will post -4.6 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sofinnova Investments Inc. acquired a new position in shares of Axsome Therapeutics in the 2nd quarter valued at approximately $24,971,000. Iron Triangle Partners LP acquired a new position in shares of Axsome Therapeutics in the third quarter valued at approximately $22,671,000. Tri Locum Partners LP increased its position in shares of Axsome Therapeutics by 198.4% during the second quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock worth $24,674,000 after acquiring an additional 203,802 shares in the last quarter. FMR LLC raised its holdings 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 worth $97,786,000 after acquiring an additional 185,951 shares during the period. Finally, Franklin Resources Inc. boosted its stake in 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 period. 81.49% of the stock is owned by institutional investors and hedge funds.

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.