Axsome Therapeutics (NASDAQ:AXSM) Reaches New 1-Year High at $82.85

Axsome Therapeutics, Inc. (NASDAQ:AXSM – Get Rating)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $82.85 and last traded at $77.08, with a volume of 705972 shares changing hands. The stock had previously closed at $73.74.

Analysts Set New Price Targets

Several research firms have weighed in on AXSM. Guggenheim increased their price objective on Axsome Therapeutics from $90.00 to $100.00 in a research report on Tuesday. HC Wainwright reiterated a “buy” rating and set a $200.00 price objective on shares of Axsome Therapeutics in a research report on Monday, April 17th. Bank of America reiterated an “underperform” rating and set a $52.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, February 14th. Morgan Stanley increased their price objective on Axsome Therapeutics from $83.00 to $87.00 in a research report on Tuesday. Finally, Mizuho reiterated a “buy” rating and set a $84.00 price objective on shares of Axsome Therapeutics in a research report on Monday, March 13th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $104.79.

Axsome Therapeutics Stock Down 1.3 %

The stock has a 50 day moving average price of $65.95 and a 200 day moving average price of $65.85. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of -16.79 and a beta of 1.90. The company has a quick ratio of 2.50, a current ratio of 2.54 and a debt-to-equity ratio of 0.86.

Axsome Therapeutics (NASDAQ:AXSM – Get Rating) last announced its quarterly earnings results on Monday, February 27th. The company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($1.18) by ($0.10). The firm had revenue of $24.37 million during the quarter, compared to analysts’ expectations of $21.51 million. As a group, analysts forecast that Axsome Therapeutics, Inc. will post -4.37 EPS for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in AXSM. VR Adviser LLC acquired a new position in shares of Axsome Therapeutics in the fourth quarter worth approximately $51,732,000. Point72 Asset Management L.P. lifted its stake in shares of Axsome Therapeutics by 1,379.1% in the third quarter. Point72 Asset Management L.P. now owns 617,900 shares of the company’s stock worth $27,571,000 after acquiring an additional 576,125 shares during the period. Boxer Capital LLC acquired a new position in shares of Axsome Therapeutics in the fourth quarter worth approximately $30,852,000. Cannell & Co. lifted its stake in shares of Axsome Therapeutics by 649.9% in the fourth quarter. Cannell & Co. now owns 370,020 shares of the company’s stock worth $28,540,000 after acquiring an additional 320,680 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Axsome Therapeutics by 549.0% in the second quarter. Goldman Sachs Group Inc. now owns 377,337 shares of the company’s stock worth $14,452,000 after acquiring an additional 319,200 shares during the period. 59.71% of the stock is owned by institutional investors and hedge funds.

Axsome Therapeutics Company Profile

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Axsome Therapeutics, Inc is a commercial-stage biopharmaceutical company, which engages in the development of novel therapies for the management of central nervous system disorders. Its portfolio consists of Products Overview and Pipeline Overview. The Products Overview includes Auvelity and Sunosi. The Pipeline Overview contain AXS-05, AXS-07, AXS-12, and AXS-14.