Axsome Therapeutics (NASDAQ:AXSM) Reaches New 52-Week High – Still a Buy?

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) reached a new 52-week high on Friday . The company traded as high as $105.00 and last traded at $103.85, with a volume of 466231 shares trading hands. The stock had previously closed at $103.89.

Analysts Set New Price Targets

Several research firms have commented on AXSM. Cantor Fitzgerald reissued an “overweight” rating and issued a $121.00 target price on shares of Axsome Therapeutics in a report on Thursday, December 12th. Needham & Company LLC reiterated a “buy” rating and issued a $133.00 price objective on shares of Axsome Therapeutics in a report on Monday, January 13th. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Truist Financial boosted their target price on shares of Axsome Therapeutics from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Royal Bank of Canada boosted their price target on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $130.69.

Axsome Therapeutics Price 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 firm has a 50 day moving average of $92.32 and a 200-day moving average of $89.80. The company has a market cap of $4.99 billion, a P/E ratio of -15.76 and a beta of 1.04.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly 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 business had revenue of $104.76 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned ($1.32) EPS. On average, equities research analysts predict that Axsome Therapeutics, Inc. will post -4.73 EPS for the current year.

Hedge Funds Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in AXSM. Iron Triangle Partners LP bought a new position in shares of Axsome Therapeutics in the 3rd quarter valued at about $22,671,000. FMR LLC boosted its holdings in shares of Axsome Therapeutics by 20.6% in the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after purchasing an additional 185,951 shares during the period. Franklin Resources Inc. increased its position in shares of Axsome Therapeutics by 47.5% during the 3rd 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 last quarter. Barclays PLC raised its holdings in Axsome Therapeutics by 279.6% during the 3rd quarter. Barclays PLC now owns 61,785 shares of the company’s stock valued at $5,552,000 after buying an additional 45,509 shares during the period. Finally, Point72 Europe London LLP bought a new stake in Axsome Therapeutics in the second quarter worth $2,475,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

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.