Axsome Therapeutics, Inc. (NASDAQ:AXSM) Short Interest Update

Axsome Therapeutics, Inc. (NASDAQ:AXSM) saw a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 4,420,000 shares, a decrease of 14.2% from the March 31st total of 5,150,000 shares. Based on an average trading volume of 891,700 shares, the short-interest ratio is presently 5.0 days. Currently, 11.7% of the shares of the stock are short sold.

Axsome Therapeutics Stock Down 0.0 %

Axsome Therapeutics stock opened at $112.21 on Friday. The company has a market capitalization of $5.47 billion, a PE ratio of -18.73 and a beta of 0.88. Axsome Therapeutics has a 12-month low of $64.11 and a 12-month high of $139.13. The firm’s fifty day moving average is $113.58 and its 200 day moving average is $103.85. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, beating the consensus estimate of ($0.97) by $0.01. The firm had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. As a group, sell-side analysts predict that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Activity

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the transaction, the chief financial officer now directly owns 42,187 shares in the company, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 22.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in shares of Axsome Therapeutics during the first quarter worth approximately $31,000. Raiffeisen Bank International AG acquired a new position in Axsome Therapeutics during the fourth quarter worth $51,000. Assetmark Inc. bought a new position in shares of Axsome Therapeutics in the fourth quarter valued at $52,000. R Squared Ltd acquired a new position in shares of Axsome Therapeutics during the fourth quarter valued at about $64,000. Finally, Aquatic Capital Management LLC acquired a new position in shares of Axsome Therapeutics during the fourth quarter valued at about $76,000. Institutional investors own 81.49% of the company’s stock.

Wall Street Analysts Forecast Growth

AXSM has been the subject of a number of research reports. Jefferies Financial Group assumed coverage on shares of Axsome Therapeutics in a report on Monday, April 7th. They issued a “buy” rating and a $200.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $153.00 price target on shares of Axsome Therapeutics in a report on Wednesday, February 19th. Wells Fargo & Company increased their price objective on Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Bank of America lifted their target price on Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Robert W. Baird increased their price target on Axsome Therapeutics from $132.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $169.87.

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.