Axsome Therapeutics, Inc. (NASDAQ:AXSM) Sees Large Drop in Short Interest

Axsome Therapeutics, Inc. (NASDAQ:AXSM) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 4,910,000 shares, a decrease of 14.0% from the February 28th total of 5,710,000 shares. Based on an average daily trading volume, of 938,000 shares, the short-interest ratio is presently 5.2 days. Currently, 13.0% of the company’s stock are sold short.

Axsome Therapeutics Trading Down 1.7 %

Shares of AXSM stock opened at $107.89 on Friday. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. The company has a market cap of $5.26 billion, a price-to-earnings ratio of -18.01 and a beta of 0.88. Axsome Therapeutics has a 1 year low of $64.11 and a 1 year high of $139.13. The firm has a fifty day moving average price of $120.70 and a 200-day moving average price of $101.63.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. The business had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $117.83 million. As a group, equities analysts predict that Axsome Therapeutics will post -2.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Mizuho increased their price objective on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an “outperform” rating in a research report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Axsome Therapeutics in a research report on Tuesday, February 11th. They set a “buy” rating and a $176.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $153.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday. Leerink Partners lifted their target price on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $153.00 price target on shares of Axsome Therapeutics in a report on Wednesday, February 19th. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $167.64.

Insider Buying and Selling

In other news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the sale, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. This represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 22.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Raiffeisen Bank International AG bought a new stake in shares of Axsome Therapeutics during the 4th quarter valued at $51,000. Assetmark Inc. purchased a new stake in Axsome Therapeutics in the 4th quarter worth $52,000. R Squared Ltd bought a new stake in Axsome Therapeutics during the fourth quarter valued at about $64,000. Aquatic Capital Management LLC purchased a new position in shares of Axsome Therapeutics in the fourth quarter valued at about $76,000. Finally, GF Fund Management CO. LTD. bought a new position in shares of Axsome Therapeutics in the fourth quarter worth about $86,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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.