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

HC Wainwright reaffirmed their buy rating on shares of Axsome Therapeutics (NASDAQ:AXSM) in a research note published on Monday,Benzinga reports. The firm currently has a $180.00 price objective 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 research analysts have also recently weighed in on the stock. Wells Fargo & Company started coverage on shares of Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price target on the stock. UBS Group reduced their price target on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Needham & Company LLC reissued a “buy” rating and set a $130.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, November 12th. Royal Bank of Canada lifted their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Robert W. Baird boosted their target price on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $124.93.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $99.65 on Monday. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. The business’s 50 day simple moving average is $91.21 and its 200 day simple moving average is $85.47. Axsome Therapeutics has a one year low of $64.11 and a one year high of $105.00. The stock has a market capitalization of $4.83 billion, a PE ratio of -14.86 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Tuesday, November 12th. The company reported ($1.34) 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 the consensus estimate 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 period in the previous year, the firm posted ($1.32) earnings per share. As a group, research analysts forecast that Axsome Therapeutics will post -4.75 earnings per share for the current year.

Insider Activity at Axsome Therapeutics

In other news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the sale, the director now owns 10,002 shares in the company, valued at approximately $913,282.62. The trade was a 52.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. raised its position in Axsome Therapeutics by 47.5% in the third quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock valued at $13,713,000 after purchasing an additional 51,696 shares during the period. Geode Capital Management LLC grew its position in shares of Axsome Therapeutics by 2.7% during the third quarter. Geode Capital Management LLC now owns 908,459 shares of the company’s stock worth $81,659,000 after buying an additional 23,564 shares in the last quarter. Barclays PLC increased its stake in shares of Axsome Therapeutics by 279.6% in the third quarter. Barclays PLC now owns 61,785 shares of the company’s stock worth $5,552,000 after buying an additional 45,509 shares during the last quarter. Wellington Management Group LLP boosted its stake in Axsome Therapeutics by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock valued at $66,750,000 after acquiring an additional 8,125 shares during the last quarter. Finally, Iron Triangle Partners LP bought a new position in Axsome Therapeutics during the third quarter worth $22,671,000. 81.49% of the stock is currently 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.